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Siemens inches up on getting nod to sell mechanical drives business to Flender Drives

27 Aug 2020 Evaluate

Siemens is currently trading at Rs. 1233.70, up by 2.10 points or 0.17% from its previous closing of Rs. 1231.60 on the BSE.

The scrip opened at Rs. 1237.70 and has touched a high and low of Rs. 1240.05 and Rs. 1230.00 respectively. So far 1923 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1716.55 on 23-Oct-2019 and a 52 week low of Rs. 947.00 on 23-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1262.00 and Rs. 1211.00 respectively. The current market cap of the company is Rs. 43859.77 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 14.29% and 10.71% respectively.

Siemens has received an approval to sell and transfer of its Mechanical Drives (MD) business for a consideration of Rs 4,400 million (Rs 440 crore) to its AG's arm Flender Drives. The sale and transfer of the business is on a going concern and slump sale basis, with effect from January 1, 2021.  The Board of Directors of the company (based on the recommendations of the Committee of Directors and the Audit Committee) at its meeting held August 26, 2020 has approved the same. 

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

Siemens Share Price

3823.90 -47.15 (-1.22%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Havells India 1255.50
Siemens 3823.90
Apar Inds 12808.00
ABB India 7009.05
Waaree Energies 3229.35
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