Siemens surges on plans to partner with RIL for select future security solution projects

Siemens Ltd. | Electric Equipment | Capital Goods & Industrial Consumables | BSE: 500550 | NSE: SIEMENS

16 Apr 2012 Evaluate

Siemens is currently trading at Rs. 804.80, up by 12.75 points or 1.61% from its previous closing of Rs. 792.05 on the BSE.

The scrip opened at Rs. 790.00 and has touched a high and low of Rs. 807.90 and Rs. 784.95 respectively. So far 13147 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 951.00 on 26-Jul-2011 and a 52 week low of Rs. 627.05 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 815.00 and Rs. 765.45 respectively. The current market cap of the company is Rs. 27261.02 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 11.60% and 13.40% respectively.

Electrical equipment maker Siemens may partner with Mukesh Ambani-owned Reliance Industries (RIL) for future security solution projects on a case-by-case basis. The two companies kept away for bidding for a security project for the city of Mumbai, either individually or jointly, after declaring their intent in September to join hands together for developing homeland security applications for the Indian market.

In September last year Reliance Industries joined hands with Siemens, its first tieup since establishing a homeland security and aerospace division. However, there are some reports that the venture between the two companies may come to an end owing to differences over strategic and operational issues.