Shares of Siemens were trading nearly 0.6 percent lower on the NSE at 11 am on November 7 after it was reported by Reuters that Siemens AG was seeking a discount from Siemens Energy for any possible purchases of shares in their Indian joint venture Siemens Ltd. At 11:22 am, the stock was trading at Rs 3,346.30.
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Last week, it was also reported that Siemens Energy is weighing the sale of a part of its stake in Siemens Ltd. Siemens Energy currently has a 24 percent stake while Siemens AG owns 51 percent stake in Siemens ltd.
Citing two sources, the Reuters report added that Siemens AG hopes for a discount of around 15 percent. While both companies in principle agree that a deal makes sense, the report added that talks are ongoing.
Also read: Siemens Energy weighs sale of stake in Indian firm to Siemens
Siemens Limited, the India listed company of Siemens AG is a technology company focused on industry, infrastructure, digital transformation, transport as well as transmission and generation of electrical power. Over the last six months, the stock has fallen over 9.16 percent from Rs 3,689.75 in May 2023.
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