Siemens Secures Rs 210-Crore Order For Electrification Of Sivok-Rangpo Rail Line
Shares of Siemens closed 0.76% higher at Rs 6,136.45 apiece on the National Stock Exchange, compared to a 0.61% rise in the benchmark Nifty.
(Photo source: Siemens website)
Siemens Ltd. announced that it has won a Rs 210-crore order from IRCON International Ltd. for the electrification of the Sivok-Rangpo rail line.
The project, which involves electrifying the Sivok (West Bengal) to Rangpo (Sikkim) railway stretch, is part of the first electrified rail line in the region that will connect Sikkim to the national rail network, Siemens Ltd. stated.
"By implementing advanced technologies like Rigid Overhead Catenary system and predictive maintenance solutions across 40 kilometres of tunnels in the Himalayan foothills, Siemens is enabling more sustainable, efficient rail operations while demonstrating expertise in overcoming complex geographical challenges," Gunjan Vakharia, head of mobility business at Siemens Ltd., said.
Vakharia added that the new project not only enhances vital infrastructure in a strategically significant region but also establishes a new standard for railway electrification in challenging terrains.
Previously, Siemens had electrified the Udhampur-Srinagar-Baramulla Rail Link, connecting the Kashmir valley to the national grid.
Earlier, global investment firm Jefferies has announced a series of adjustments to its long-only equity portfolios in Asia, excluding Japan. The changes reflect a strategic rebalancing of key holdings.
In its Asia ex-Japan portfolio, Jefferies will add Siemens Ltd. long-only equity portfolio with a 4% weighting, by removing the investment in Samsung Electronics Pref and reducing the stake in SK Hynix by one percentage point.
I will reintroduce an investment in HDFC Bank Ltd. with a 4% weighting. The brokerage will reduce its stakes in Macrotech Developers Ltd., Larsen & Toubro Ltd., ICICI Bank Ltd., and Axis Bank Ltd. by one percentage point each to pay for this investment.
Shares of Siemens closed 0.76% higher at Rs 6,136.45 apiece on the National Stock Exchange, compared to a 0.61% rise in the benchmark Nifty. The share price has risen 15.32% in the last 12 months.
Out of the 25 analysts tracking the company, 14 maintain a 'buy' rating on the stock, six recommends 'hold' and five suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 23%.
(With PTI Inputs)
