Siemens shines on receiving LoA for manufacturing 1,200 electric locomotives

Siemens is currently trading at Rs. 2853.20, up by 66.80 points or 2.40% from its previous closing of Rs. 2786.40 on the BSE.

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The scrip opened at Rs. 2803.05 and has touched a high and low of Rs. 2879.25 and Rs. 2803.05 respectively. So far 5884 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 3136.80 on 15-Sep-2022 and a 52 week low of Rs. 2150.75 on 09-May-2022.

Last one week high and low of the scrip stood at Rs. 2989.90 and Rs. 2775.30 respectively. The current market cap of the company is Rs. 99229.35 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 15.55% and 9.45% respectively.

Siemens has received Letter of Award (LoA) from the Ministry of Railways for the Manufacturing and Maintenance of the 1200 high horsepower (9000 HP) Electric Locomotives project in Dahod, Gujarat, India. The estimated value of the contract is about Rs 26,000 crore (about $3.2 Billion) excluding taxes and price variation. The Railways factory at Dahod will manufacture 1200 high horsepower (9000 HP) electric locomotives over a period of 11 years.

Siemens is a technology powerhouse that has stood for engineering excellence, innovation, quality and reliability. The company focuses on the areas of electrification, automation and digitalization.

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