Siemens shares extend rally after winning ₹20,000 cr Dahod locomotives project. Should you buy?
- On Siemen emerging as the lowest bidder for manufacturing 1,200 electric locomotives of 9000 HP (horsepower) worth over ₹20,000 crore at Dahod in Gujarat, Amit Anwani – Research Analyst, Prabhudas Lilladher believes this order will boost the company's Motion business revenue growth ahead.
One of the leading industrial manufacturing companies, Siemens witnessed strong buying for the third consecutive day on Thursday. In the early deals, the shares gained nearly a percent on BSE. So far this week, Siemens shares held a robust bull run and the reason would be the company emerging as the lowest bidder (L1) for the 9000 HP electric locomotives project in Dahod, Gujarat. This order is expected to boost Siemens' revenue growth going forward. Experts are optimistic about the stock.
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