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Siemens gains as its arm secures contract to develop 250 MW wind power project in Egypt

Siemens is currently trading at Rs. 1585.65, up by 12.90 points or 0.82% from its previous closing of Rs. 1572.75 on the BSE.

The scrip opened at Rs. 1582.70 and has touched a high and low of Rs. 1588.45 and Rs. 1575.65 respectively. So far 2559 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1604.00 on 14-Oct-2019 and a 52 week low of Rs. 841.00 on 22-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1604.00 and Rs. 1481.05 respectively. The current market cap of the company is Rs. 56512.72 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 13.88% and 11.12% respectively.

Siemens’ subsidiary — Siemens Gamesa has secured contract from Lekela Power to develop 250 MW wind power project in Egypt. Under the contract, Siemens Gamesa will install 96 SG 2.6-114 turbines through a turnkey EPC contract and will provide long term maintenance through a 15-year service agreement.

Siemens is a technology powerhouse that has stood for engineering excellence, innovation, quality and reliability. The company focuses on the areas of electrification, automation and digitalization.

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