Siemens Ltd sale of low-voltage motors unit based on valuation by Grant Thornton Bharat, ICICI Securities thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
At least three brokerages have downgraded the price target and lowered the rating after the company announced a deal to sell its low voltage motors and geared motors businesses to an arm of its German parent.
Chennai, May 19: In a sale and purchase transaction, Siemens Ltd on Friday said it has decided to sell its low voltage motors and geared motor business for Rs 2,200 crore and buy the electric vehicle (EV) division of Mass-Tech Controls Private Ltd for Rs 38 crore.
In a sale and purchase transaction, Siemens Ltd on Friday said it has decided to sell its low voltage motors and geared motor business for Rs 2,200 crore and buy the electric vehicle (EV) division of Mass-Tech Controls Private Ltd for Rs 38 .