Siemens jumps after its parent company in Germany rises stake in Siemens Energy

Siemens Share Price: Siemens Ltd started trading on a higher on Monday after the firm announced that its parent company, Siemens AG, Germany, will buy a 18 per cent stake (6.41 crore shares) of the company from Siemens Energy Holding BV.

Siemens Ltd was trading higher by 1.19 per cent, or Rs 44.55, at Rs 3798, on BSE at 9:54 am on Monday.

The share that closed at Rs 3753.45 in the previous session started the trading session on Monday at Rs 3814.95 before rising to the day's high of Rs 3838.00. 

Siemens AG to buy stake

Under the deal, Siemens AG will buy Siemens Energy's shares at Rs 2952.86/share (at a discount of 21 per cent of CMP).

The company will buy the stake on or after December 8.