Siemens Financial News

Siemens Ltd. traded at Rs 3390.0 on BSE at 11:16AM (IST) on Thursday, down 0.92 per cent. The stock quoted a 52-week low price of Rs 2692.0 and a high of Rs 4066.1.

Siemens Ltd has filed a writ petition before the Bombay high court challenging show cause notice (SCN) issued by the GST authority, the company said in a regulatory filing on Monday. The German engineering and technology conglomerate’s Indian arm has challenged the receipt of the show cause notice proposing to levy GST on leasehold interest in the land located at Worli, Mumbai and freehold interest in the buildings on the property.

Amazon.com Inc. joined companies and investors bowing out of the upcoming Web Summit technology conference in Europe after the event's leader made controversial comments about Israel. A representative for Amazon Web Services confirmed Friday that the company wouldn't be participating in the conference, scheduled for November in Lisbon.

As the biggest players in wind energy gear up to report quarterly earnings, supply-chain reliability issues are front and center for both stock analysts and industry leaders.

ABB matched forecasts with its third-quarter operating profit on Wednesday and dampened expectations for the fourth quarter while reporting continued decline in orders from China. The maker of industrial drives and motors posted a 13% increase in its operational earnings before interest, tax and amortisation (EBITA) to $1.4 billion during the three months to Sept. 30, in line with a company-gathered consensus of forecasts. Revenues at the company, which competes with Germany's Siemens and France's Schneider Electric rose 8% on a comparable basis to $8 billion, slightly below analysts' forecast for $8.1 billion. ABB reported net income of $882 million, below the $919 million consensus forecast. ABB, a big supplier to industry, is seen as a bellwether for the broader global economy, with its products being used in ships, ports, factories and transport systems. The group said its order intake fell 2% during the quarter with double-digit growth in the United States, its biggest market, partially helping to offset a decline in China, ABB's second-largest market. «Orders in China declined at a low single-digit comparable growth rate particularly hampered by weakness in robotics and construction demand,» Chief Executive Bjorn Rosengren said in a statement. ABB said it anticipated low- to mid-single digit comparable revenue growth in the fourth quarter.

₹412,648 crore as of June end, with international orders having a share of 29%. As such, investors will have to gauge the impact of the Israel-Hamas war on the companies engaged with the Middle East.

“Let’s get this straight – the energy transition will only happen on the backs of a stable, secure and resilient grid,” says Samuel Morillon, managing director Australia, Siemens Energy.

Siemens AG, German multinational technology conglomerate plans to make India hub for mass transit solutions, company executives said today. «The $3 billion large order (from Indian Railways) that we won, will for sure accelerate component and locomotive manufacturing here,» said Peter Koerte, Chief Technology Officer and Strategy Officer, Siemens AG, adding that Siemens also has a site where it develops a lot of infrastructure solutions and wants to use India as a hub for mass transit solutions which is a huge opportunity. Early this year, Siemens signed a Rs 26,000 crore ($3.25 billion) contract with Indian Railways to supply and service electric locomotives for freight movement in India. The deal is the biggest locomotive deal in the history of Siemens Mobility and the single largest order for the company in India. As part of the agreement, Siemens will deliver 1,200 electric locomotives of high capacity 9000 horsepower (HP) and also provide servicing for 35 years to the Railways.The deliveries would be undertaken over an eleven-year period. Siemens said it has engineering capacities in India (30 factories) and wants to build and look at how it can develop this further for the region. «We already have the Pune-Hinjewadi project with the Tatas.

Siemens Ltd. traded at Rs 3522.6 on BSE at 11:52AM (IST) on Monday, down 0.25 per cent from previous close. The stock quoted a 52-week low price of Rs 2692.0 and a high of Rs 4066.1.

Siemens Ltd. gained 1.34 per cent to Rs 3567.4 in Friday's trade. It hit a high of Rs 3572.65 and low of Rs 3520.1 during the session.

NEW DELHI : Honeywell is automating mines, refineries and power plants worldwide with artificial intelligence and machine learning similar to how advanced technology aids modern autonomous cars, a top executive at the global technology conglomerate said. The American multinational company, which has operated in India for eight decades, counts top conglomerates such as Reliance and Adani groups among its clients. It provides industrial automation solutions for power, oil and gas, steel and mining and sectors.

«We think that the capex cycle is surely looking good and typically in an election year, these companies and these sectors tend to do very well so one should have a positive bias on this space,» says Hemang Jani, Independent Market Expert. Curious to get in your thoughts. What is the outlook on the capital goods space, the likes of a Siemens etc? I think within the capital goods space, what stands out for us is L&T because of the recent business updates and the fact that this open offer which got concluded, the floating stock from the retail side has reduced considerably and different business verticals are showing good traction. So L&T would be the number one pick and apart from that, I think the sector may go through a little bit of correction and depending on how the quarterly numbers pan out for companies like Siemens, ABB and whole host of midcap companies, one should be able to kind of take a call based on the inputs.

Siemens Ltd. fell 0.46 per cent to Rs 3723.15 in Friday's trade as of 12:28PM (IST) even as the benchmark Nifty ruled at 19776.3, up 33.95 points. The scrip had closed at Rs 3740.65 in the previous session.

A coalition of 25 governors and the Biden administration are set to announce a pledge Thursday morning to quadruple the number of heat pumps in U.S. homes by 2030

Siemens Ltd. gained 0.19 per cent to Rs 3780.05 in Wednesday's session as of 10:25AM (IST) even as the equity benchmark Sensex traded 580.74 points lower at 67016.1. Earlier in the day, the stock witnessed a start to the session.

Chandrababu Naidu. Chandrababu Naidu's son and TDP leader Nara Lokesh has been in Delhi for the past couple of days and has accused the Andhra government of political vendetta against his father. The state CID team on Sunday held a press conference in Delhi to present the investigation in the skill development scam. «This is a scam of ₹371 crore of government money. This money was given as a nomination without any tender to a company named Siemens by the AP government.

Siemens Ltd. rose 0.5 per cent to Rs 3808.2 in Thursday's trade.

Andhra Pradesh Crime Investigation Department on Wednesday said as many as 13 signatures of TDP chief N Chandrababu Naidu were found in various documents pertaining to the Skill Development Corporation, which was set up by flouting the rules. Speaking to reporters, AP CID chief N Sanjay said owing to the alleged role played by Naidu in the 'scam', he was arraigned as accused one (A1) in the case.

Siddhartha Khemka, Vice President, Head of Research, MOFSL, says “the premium is now about 15-20% and mid and smallcap space is where one needs to be cautious. We do not believe that there is going to be a full large scale selling in the mid and small caps but a healthy profit booking is definitely advisable and that is something that we have been talking to customers about but it is not a broad-based profit booking that we are advising.”Are you recommending booking profits anywhere? We are seeing quite a cool-off in some of the capital goods names, power financiers, railway and even defence stocks.What has been happening is we have been sounding some cautiousness in the broader market, be it the midcaps or smallcaps, given that the kind of rally that they have seen in the last couple of months and also because if you look at the valuations, our midcap index is trading at about 24 times one year forward 24 to 25 times roughly on a one-year forward basis – compared to Nifty which at 20,000 is trading at about 21 times on a FY24 peak.

Sindhu Gangadharan, senior vice president and managing director of SAP Labs India has been appointed as vice chairperson of IT industry lobby group National Association of Software and Service Companies (nasscom). The announcement comes a week after Cognizant India's chairman and managing director Rajesh Nambiar, chairman and managing director was named as its chairperson. He was succeeding Anant Maheshwari, former president, Microsoft India, in the role. This means Gangadharan will assume the top chairperson role in the next cycle.

«No, I do not think we peaked at all. When you look at capex particularly in infrastructure, infrastructure will go on for the next couple of years,» says Sunil Mathur, MD & CEO,Siemens India.How would you view the current situation in India?There is a lot of interest in manufacturing. A lot of fresh capacity is coming up. Companies are looking at diversification. India is definitely a good place to be in and we see things happening. We see real traction on the ground. So, I believe it is not just a vision, that vision is slowly getting realised and that is what makes it so exciting.