German engineering conglomerate Siemens AG is divesting a 1.2% stake in its Indian unit Siemens and expected raise up to $50 million. Siemens India’s about 4 million shares are being sold to investors in the price band of Rs 649.15 to Rs 698 a share. Siemens AG holds around 75% stake in the Indian unit.
On standalone basis, the company has reported a fall of 76.47% in its net profit at Rs 36.42 crore for the quarter, as compared to Rs 154.77 crore for the same quarter in the previous year. However, total income of the company has increased marginally by 1.91% to Rs 2856.21 crore for the quarter under review as compared to Rs 2802.80 crore for the quarter ended June 30, 2011.
The Siemens Group in India has emerged as a leading inventor, innovator and implementer of leading-edge technology enabled solutions operating in the core business segments of Industry, Energy and Healthcare.
Company Name | CMP |
---|---|
Havells India | 1666.40 |
Siemens | 6785.55 |
Apar Inds | 9914.50 |
Waaree Energies | 2887.95 |
ABB India | 6992.85 |
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