BEML gains over 2% after Government approves closure of subsidiary Vignyan Industries

The Union Cabinet approved the closure of loss-making VIL, Tarikere, a subsidiary of BEML Limited, as per the Insolvency & Bankruptcy Code.

Sep 13, 2021 10:09 IST India Infoline News Service

BEML
BEML Limited informed the exchanges Friday that the Ministry of Defence vide letter dated September 10, 2021, informed that the Union Cabinet, Government of India has approved the closure of loss-making Vignyan Industries Limited (VIL), Tarikere, a subsidiary of BEML Limited, as per section 59 of the Insolvency & Bankruptcy Code 2016 (IBC).

At around 10.44 AM, BEML Ltd was trading at Rs1,358.50 per piece up by Rs28.75 or 2.16% from its previous closing of Rs1,329.75 per piece on the BSE.
The scrip opened at Rs1,330 and has touched a high and low of Rs1,364.45 and Rs1,330 respectively.

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