Page 5 - Siemens

Street unhappy over Siemens' plan to sell its low-voltage motor unit

Stock plunges 8.35%; analysts divided over electrical equipment maker's prospects due to high valuations

Siemens dips 10% after board okays sale of low voltage-geared motors biz

In a step to address the fast-growing demand for electric vehicle (EV) charging infrastructure in India, the company signed an agreement to acquire the EV division of Mumbai-based Mass-Tech Controls.

Siemens to acquire Mass-Tech Controls' EV division for Rs 38 crore

Following the acquisition, Mass-Tech's EV division will be fully integrated into the e-Mobility Business Unit of the Smart Infrastructure Business at Siemens

Siemens to sell division for Rs 2,200 cr, buy EV charging firm for Rs 38 cr

Technology firm Siemens' board on Friday approved the sale of low voltage motors and geared motors businesses to a Siemens AG subsidiary -- Siemens Large Drives India -- for Rs 2,200 crore. The Board of Directors of Siemens Limited has approved the sale and transfer of low voltage motors and geared motors businesses, including related customer service business to Siemens Large Drives India Pvt Ltd, an entity wholly owned by Siemens AG, for a consideration of Rs 2,200 crore with effect from October 1, 2023, a company statement said. The transaction is subject to fulfilment of conditions precedents agreed upon between the parties, including receipt of requisite shareholders, statutory and regulatory approvals, as applicable, it added. The Board has also decided to consider the distribution of 100 per cent of the sale consideration as reduced by applicable Capital Gains Tax and any other applicable taxes, if any, on the transaction, as a special dividend, at the first board meeting aft

Siemens board agrees to sell low voltage motors, gears biz for Rs 2,200 cr

Technology firm Siemens' board on Friday approved the sale of low voltage motors and geared motors businesses to a Siemens AG subsidiary -- Siemens Large Drives India -- for Rs 2,200 crore. The Board of Directors of Siemens Limited has approved the sale and transfer of low voltage motors and geared motors businesses, including related customer service business to Siemens Large Drives India Pvt Ltd, an entity wholly owned by Siemens AG, for a consideration of Rs 2,200 crore with effect from October 1, 2023, a company statement said. The transaction is subject to fulfilment of conditions precedents agreed upon between the parties, including receipt of requisite shareholders, statutory and regulatory approvals, as applicable, it added. The Board has also decided to consider the distribution of 100 per cent of the sale consideration as reduced by applicable Capital Gains Tax and any other applicable taxes, if any, on the transaction, as a special dividend, at the first board meeting aft

Siemens hits record high; up 3% on posting 39% jump in Q4 net

The company reported 38.7 per cent YoY growth in Q4FY23 net profit at Rs 471.80 crore, backed by 28.6 per cent rise in revenue at Rs 4,974.40 crore.

Stocks to Watch on May 12: Adani Total, RIL, TaMo, ONGC, Vedanta, Mankind

Stocks to watch today: Mankind Pharma has confirmed that the Income Tax Department conducted a search at some of the premises/ plants related to the Company and some of its subsidiaries

Siemens reappoints Sunil Mathur as MD & CEO; Spindler re-appointed as CFO

Sunil Mathur is the managing director and chief executive officer of Siemens Limited since 1 January 2014

Siemens Energy weighs sale of electrical components maker Trench

Siemens Energy is analyzing how to improve the long-term profitability and competitiveness of its bushings, instrument transformers and coils business, according to a spokesperson

Siemens hits record high; stock surges 22% thus far in calendar year 2023

Last week, Siemens, as part of a consortium along with Rail Vikas Nigam Limited, received two separate orders from Gujarat Metro Rail Corporation

Siemens, Rail Vikas Nigam consortium bags 2 orders from Gujarat Metro Rail

A consortium of Siemens and Rail Vikas Nigam has bagged two separate orders from Gujarat Metro Rail Corporation. "Siemens Ltd, as part of a consortium along with Rail Vikas Nigam Ltd, received two separate orders from Gujarat Metro Rail Corporation Ltd (GMRCL)," a BSE filing by Siemens stated. "Siemens Limited's share as part of the consortium is Rs 678 crore," it added. The orders are for Surat Metro Phase 1 (over 40 kilometres covering 38 stations and 2 depots) and Ahmedabad Metro Phase 2 (over 28 kilometres covering 23 stations and 1 depot). Siemens will provide project management, and rail electrification technologies, including advanced power supply and distribution systems. In addition, Siemens will also be providing advanced digital solutions, such as Supervisory Control and Data Acquisition (SCADA) solutions for both metros. Gunjan Vakharia, Head of Mobility Business, Siemens Ltd, said, "We would like to thank GMRCL for trusting Siemens in their journey of creating a safe

All our innovations have a bit of India in them: Siemens Healthineers CTO

In a Q&A, Peter Schardt talks about the Rs 1,300 crore campus his company is setting up in India, and dwells on the firm's plans in the country

ED arrests four in Andhra govt's 'Siemens Project' money laundering case

The official said that all the accused were presented at a Special PMLA Court in Visakhapatnam which remanded them to seven days' custodial remand

Siemens scaling new heights on strong performance, govt's infra thrust

Decent upside in the stock given that most analysts are positive with target prices ranging Rs 3,250-3,800

Siemens, JSL: 9 stocks in Nifty 500 top new highs despite sluggish mood

On Wednesday, shares of Cera Sanitaryware, Jindal Stainless, Siemens, and Triveni Turbine recorded new all-time highs, despite weak market

Siemens gains 3%, hits record high on strong operational performance in Q1

Overall, Siemens is expected to further strengthen its leadership position through further penetration of automation and digitization products & services across segments, ICICI Securities said

Siemens posts 85% rise in consolidated net profit at Rs 462 crore

Siemens Ltd on Tuesday posted 85 per cent rise in consolidated net profit at Rs 462.7 crore for December quarter on the back of higher revenues. In the year-ago period, net profit of the company was Rs 250 crore, as per a BSE filing. The company follows October-September financial year. Total income rose to Rs 4,116.8 crore in the quarter from Rs 3,480.9 crore in the same period a year ago. It said Willem Rudolf Basson has tendered his resignation as director of the company, with effect from May 1, 2023, due to other commitments. The company's board, based on the recommendation of the Nomination and Remuneration Committee, has appointed Juergen Wagner as an Additional Director (non-executive non-independent) of the company. Wagner's appointment is with effect from May 1, 2023 or on allotment of Director Identification Number (by Ministry of Corporate Affairs), whichever is later, subject to approval of members of the company. Wagner is not related to any director of the company

L&T, Siemens surge up to 5% as govt proposes 33% jump in capex outlay

Timken India, Praj Industries, AIA Engineering and ABB were among other individual stocks from the S&P BSE Capital Goods index, up 4 - 5 per cent each.

Siemens signs Rs 26,000-crore locomotive order with Indian Railways

The contract is the single biggest order for Siemens, the company said in a disclosure to the stock exchanges, and will be used for freight transport

Siemens India to make 1,200 horsepower electric locomotives for railways

Siemens, India will manufacture 1,200 electric freight locomotives of 9,000 HP each for the railways, according to the terms of a contract valued at Rs 26,000 crore, the national transporter said on Saturday. The Indian Railways has issued a letter of award (LoA) for the manufacturing and maintenance of the 9,000-HP electric freight locomotives to Siemens, India. "Railways factory at Dahod, Gujarat will manufacture 1,200 high horsepower (9,000 HP) electric locomotives over a period of 11 years. It would entail manufacturing of 1,200 locomotives and maintenance of these locomotives for 35 years. The estimated value of contract is about INR 26,000 crore (about 3.2 billion USD), excluding taxes and price variation," the railways said in a statement. An agreement with Siemens, India will be signed within 30 days of the issuance of the LoA. The prototype locomotives are to be delivered in the next two years. The Dahod unit will be fully constructed for manufacturing these locomotives ..