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18-Jul2017

Siemens gains on bagging order to install IGBT technology for Indian Railways

Siemens is currently trading at Rs. 1364.35, up by 7.20 points or 0.53% from its previous closing of Rs. 1357.15 on the BSE.

The scrip opened at Rs. 1354.95 and has touched a high and low of Rs. 1368.80 and Rs. 1349.75 respectively. So far 1845 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1470.00 on 10-May-2017 and a 52 week low of Rs. 1011.00 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 1371.05 and Rs. 1331.75 respectively. The current market cap of the company is Rs. 48076.23 crore.

The promoters holding in the company stood at 75.00%, while institutions and non-institutions held 14.32% and 10.68% respectively.

Siemens has bagged the contract to install state-of-the-art IGBT technology for Indian Railways. The company will be designing, supplying and installing Alternating Current (AC) Traction systems for Dual Cab High Horsepower Diesel Engine locomotive for Diesel Locomotive Works (DLW), Indian Railways.

The systems have been developed based on the state-of-the-art Insulated Gate Bipolar Transistors (IGBT) technology. The AC Traction systems will be produced at the Nashik Factory of Siemens.

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. It is one of the leading producers of energy-efficient, resource-saving technologies; combined cycle turbines for power generation; and power transmission solutions.


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