ITDC, BEML surge up to 17% on report govt may invite EoI for divestment

In the past seven trading days, BEML stock has advanced 36 per cent

Shares of state-owned hotel company India Tourism Development Corporation (ITDC) and defence firm BEML rallied up to 17 per cent on the BSE in Thursday's session on the back of heavy volumes following a report that the government could invite expression of interest (EoI) for divestment in these public sector companies.

"Over the next few weeks, the department of investment and public asset management (DIPAM) will finalise the process of strategic sale of several public sector undertakings (PSUs) including BEML, India Tourism Development Corporation (ITDC) and Central Electricity Corporation," Moneycontrol reported quoting sources.

Among individual stocks, ITDC rallied 17 per