BEML may positive … Company Approves to incorporate subsidiary for demerger of surplus land, asset
Expects positive for BEML after the news that the company approved surplus land ahead of stake sales by the government. Company approved a plan under which it will transfer parcels of land and buildings to BEML Land Assets. The plan involves demerger of non-core assets from BEML and vesting them in BEML Land Assets. It will also involve reduction and cancellation of share capital of BEML Land Assets.