Siemens hits new summit, soars nearly 9% on plans to spin-off energy biz

Shares of Siemens soared nearly 9 per cent to a new life-time high at 4,244.55 in Monday’s intra-day deals on the BSE after the company announced its plan to consider demerger of its energy business into a separate entity.

At 1:45 PM, Siemens traded with a gain of 7.7 per cent at Rs 4,205. Around 29,000 shares had exchanged hands at the counter, as against the two-week average volume of around 13,000 shares on the BSE.

The stock has been a star outperformer so far this year, with a gain of over 15 per cent as against the BSE benchmark return of 17.5 per cent.