BEML Land Assets debuts on bourses, in line with Anil Singhvi's estimate

BEML Land Assets — a wholly-owned subsidiary of state-run mining and construction equipment manufacturer BMEL — began its trading journey on stock exchanges BSE and NSE on Wednesday, April 19. Trading under the symbol BLAL, BEML Land Assets contains the non-core business of BEML.

The BEML Land Assets stock debuted at Rs 290.2 apiece on BSE and Rs 287 apiece on NSE, in line with market expectations. Zee Business Managing Editor Anil Singhvi had predicted a listing price for BEML Land Assets shares at around Rs 270-300 apiece.

BEML Land Assets listing: What Anil Singhvi says

Market wizard Anil Singhvi believes sees post-listing upside potential in BEML Land Assets shares. 

According to Zee Business research, BEML's non-core assets are valued at Rs 630-640 per share. Singhvi is of the view that the value will take some time to reflect in the newly-listed stock.

Both the stocks — BEML and BEML Land Assets — will together be priced at around Rs 1,500-1,550 in total, according to Singhvi.

What is BEML Land Assets?

BEML has spun off its non-core and surplus assets including land into BEML Land Assets, as part of the government's strategic disinvestment drive.

BEML shares

At 10 am, BEML Land Assets shares were locked in the five per cent lower circuit at Rs 275.7 apiece on BSE, and BEML shares were down 0.5 per cent at Rs 1,240 apiece. On Tuesday, the BEML stock rose 2.3 per cent to close at Rs 1,246.5 apiece. 

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.