Siemens shines on emerging as lowest bidder for manufacturing 1,200 electric locomotives
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Siemens is currently trading at Rs. 2915.15, up by 148.75 points or 5.38% from its previous closing of Rs. 2766.40 on the BSE.
The scrip opened at Rs. 2806.00 and has touched a high and low of Rs. 2926.00 and Rs. 2806.00 respectively. So far 35219 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. 2926.00 and Rs. 2727.00 respectively. The current market cap of the company is Rs. 98517.11 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 emerged as the lowest bidder for a project for manufacturing 1,200 electric locomotive of 9000 HP (horse power) worth over Rs 20,000 crore at Dahod in Gujarat. Indian Railways had floated the tender for manufacturing and maintenance of 9,000 HP electric locomotives at Dahod in April this year.
The 1,200 locomotives will be manufactured at Dahod facility in 11 years from 2023-24 to 2033-34. The successful bidder will supply five locomotives in the first year and 35 in the second year. As many as 80 locomotives will be supplied per annum in the third and fourth years. The production will be increased to 100 locomotives per annum in the fifth and the sixth year. Thereafter 160 locomotives will be manufactured per annum for five years till 2033-34.
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.
