Siemens jumps after its parent company in Germany rises stake in Siemens Energy
Under the deal, Siemens AG will buy Siemens Energys 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.
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.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.