Siemens gains 2.7% Intraday to touch an all-time High at Rs.1136 on Railway Contracts

Mumbai: Shares of  Siemens India gained 2.7 percent intraday to touch an all-time high of Rs 1,136 on Monday on getting orders from Indian Railways. “The mobility division of Siemens has won three orders worth approximately Rs 450 crore from Varanasi-based Diesel Locomotive Works (DLW) of Indian Railways for Locomotive equipment,” said the company in its filing to the exchange.

Siemens will supply, install and commission and supervise the three-phase Propulsion Systems for Diesel Electric Locomotives – AC-AC Traction Systems (including Locomotive Controller) and three-phase traction motors.

The Locomotive Works manufactures nearly 300 electric locomotives a year.

At 12:33 hours IST, the stock was quoting at Rs 1,121.95, up Rs 16.30, or 1.47 percent on the BSE.