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Siemens gains on supplying propulsion system to Indian Railways
Jun-13-2019

Siemens is currently trading at Rs. 1262.00, up by 1.75 points or 0.14% from its previous closing of Rs. 1260.25 on the BSE.

The scrip opened at Rs. 1257.40 and has touched a high and low of Rs. 1272.00 and Rs. 1254.40 respectively. So far 5207 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1308.00 on 30-May-2019 and a 52 week low of Rs. 841.00 on 22-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1280.00 and Rs. 1230.95 respectively. The current market cap of the company is Rs. 45180.98 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 13.64% and 11.36% respectively.

These locomotives will boost the haulage capacity of Indian Railways by around 50 per cent, thereby improving average speed and utilisation of rolling stock assets

Siemens is supplying indigenously-made propulsion system to Indian Railways, which is upgrading its electric locomotives. The Indian Railways is upgrading its electric locomotives from 6,000 HP to 9,000 HP as part of its rail electrification initiative.

These locomotives will boost the haulage capacity of Indian Railways by around 50 per cent, thereby improving average speed and utilisation of rolling stock assets. The advanced technology aims to save traction energy cost, thereby reducing fuel expenses and carbon emissions.

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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