Siemens Limited receives CCI nod for acquisition of C&S Electric Ltd

Siemens Limited had earlier announced regarding signing of definitive agreements for the proposed acquisition of C&S Electric Limited ("C&S") by the Company.

The Company has received intimation from the Competition Commission of India ("CCI") that it has granted its approval with respect to the proposed acquisition of C&S by the Company. However, the detailed order from the CCI is awaited.

The proposed acquisition is still subject to receipt of other approvals and fulfilment of condition precedents as agreed between the parties.

Shares of SIEMENS LTD. was last trading in BSE at Rs.1220.8 as compared to the previous close of Rs. 1224.4. The total number of shares traded during the day was 59458 in over 2541 trades.

The stock hit an intraday high of Rs. 1232.85 and intraday low of 1208.05. The net turnover during the day was Rs. 72672580.

Source : Equity Bulls

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