Siemens chugs along

Siemens opened 1.5% higher today at Rs.2806, going up 6.5% to an intraday high at Rs.2944.70 and is currently among the top five gainers on the BSE.

The stock price rose after the company announced that it has emerged as the lowest bidder (L1) for the 9000 HP Electric Locomotives project in Dahod, Gujarat, India.

 Indian Railways had floated the tender for manufacturing and maintenance of these electric locomotives in April’22.