Tag: Siemens

Stock Market Live Updates: Sensex Cracks 2,900 Points, Nifty Around 22,000; Metal, Financials, IT, Auto, Realty Drag – News18

Stock Market Live Updates: Indian benchmark equity indices, the BSE Sensex and Nifty50, dropped at the market open on Monday, tracking steep declines in global markets amid fears of an escalating global trade war triggered by US President Donald Trump’s tariff policies.

At the opening bell, the BSE Sensex was down by 3,379.19 points, or 4.48%, at 71,985.50, and the Nifty50 was at 22,003.40, down by 901.05 points, or 3.93%.

At 12 PM, the BSE Sensex was lower by 2,912.49 points, or 3.86 per cent, at 72,452.20, and the Nifty 50 was at 21,966.75, lower by 937.70 points, or 4.09 per cent.

Indian stock markets are reflecting the turmoil in global markets, where Wall Street futures were down by around 4% on Sunday evening, while markets in the Asia-Pacific region plunged between 4-6%, amid concerns over a growing trade war between the US and the rest of the world.

Markets are reacting to the sell-off seen in the US markets on Friday, as the two-day rout took the overall market capitalisation erosion of over $5 trillion.

Global Cues

Asian shares nosedived on Monday after the meltdown Friday on Wall Street over US President Donald Trump’s tariff hikes and the backlash from Beijing.

US futures also signaled further weakness. The future for the S&P 500 lost 4.2 per cent while that for the Dow Jones Industrial Average shed 3.5 per cent. The future for the Nasdaq lost 5.3 per cent.

Tokyo’s Nikkei 225 index lost nearly 8 per cent shortly after the market opened and Australia’s S&P/ASX 200 tumbled more than 6 per cent.

South Korea’s Kospi lost 4.4 per cent.

Oil prices sank further, with US benchmark crude down 4 per cent, or $2.50, at $59.49 per barrel. Brent crude, the international standard, gave up $2.25 to $63.33 a barrel.

On Friday, Wall Street’s worst crisis since Covid slammed into a higher gear. The S&P 500 plummeted 6 per cent and the Dow plunged 5.5 per cent. The Nasdaq composite dropped 5.8 per cent.

The losses came after China matched President Donald Trump’s big raise in tariffs announced last week, upping the stakes in a trade war that could end with a recession that hurts everyone. Even a better-than-expected report on the US job market, usually the economic highlight of each month, wasn’t enough to stop the slide.

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April 7, 2025
Exclusive Interview: Siemens To Make India’s First 9000 HP Electric Loco For Indian Railways

Indian Railways the fastest moving railway service provide in the world to electrify its entire rail network. In fact, in most of the states of India, the Railways has already achieved 100 percent electrification. On the other hand, the Indian Railways has launched train services like Vande Bharat Express, the engineless semi-high speed trains that connect important cities of India, modernizing the rail travel, as well as reducing the travel time, thanks to its top speed of 180 kmph. However, a majority of this electrification journey depends on converting the existing trains into electric ones by replacing diesel loco with electric loco.

Rolling stock giants, Siemens, recently bagged a Rs 25,000 crore project of manufacturing 1,200 units of 9,000 horsepower (HP) electric locomotives from the Indian Railways. The German brand will make the India’s most powerful electric loco at the Dahod workshop under the Make in India initiative. It is Indian Railways’ first locomotive production unit in Gujarat, the home state of Prime Minister Narendra Modi. The 9,000 HP loco will be have a haulage capacity of 4,500 tonnes of load while the maximum speed of these locomotives will be up to 120 km per hour.

We recently got in touch with Gunjan Vakharia, Head, Mobility Business, Siemens Limited to understand more about this 9000 HP electric loco made for the Indian Railways, apart from other ways in which Siemens has partnered with the Railways. Here’s our exclusive conversation:

Tell us about Siemens’ Mobility and India operations

Siemens’ Mobility business in India offers intelligent and efficient technologies and solutions for passenger and freight transportation covering the entire gamut of Rail infrastructure and Metro-Rail solutions. It is constantly innovating its portfolio in its core areas of rolling stock, rail automation and electrification, turnkey systems as well as related services. With digitalization, Siemens Mobility is enabling mobility operators to make infrastructure intelligent and sustainable by enhancing system availability, maximizing network capacity, optimizing customer experience, and reducing life cycle costs.

The Business also offers a range of hardware and software solutions for rail traffic automation, high-speed trains, commuter trains, locomotives, trainsets for intercity travel, urban public vehicles such as metro, light rail and electrification systems, intelligent traffic systems, parking and tolling solutions, as well as remote services.

What is your association with Indian Railways?

For the past seven decades, Siemens has been a partner in progress for Indian Railways, providing cutting-edge technologies and solutions to power sustainable growth including its latest offering of 9000 HP Electric Locomotives. The Mobility business has been supporting the Indian Railways’ vision of complete electrification, enhanced haulage capability and building high-technology systems in line with the Make in India initiative.

It has partnered the Indian Railways in several landmark projects to modernize track infrastructure, enhance capacity and connectivity as well as improve safety and speed. The focus has also been on energy efficiency, passenger riding experience, development and adoption of innovations and new technologies for both passenger and freight transportation.

Tell us about the 9000 HP rail engine

Siemens Limited has received an order for 1,200 locomotives of 9,000 horsepower (HP) from Indian Railways, marking the single largest locomotive order in the history of Siemens Mobility and single largest order in the history of Siemens India. Siemens Limited will design, manufacture, commission and test the locomotives. Deliveries are planned over an eleven-year period, and the contract includes 35 years of full-service maintenance.

The locomotives will be assembled in the Indian Railways factory based in Dahod, Gujarat. Maintenance will be performed in four Indian Railways depots located in Vishakhapatnam, Raipur, Kharagpur and Pune. Locomotive assembly and maintenance will be implemented together with the staff of Indian Railways. The contract has a total value of Rs. 26,000 crore (approximately), excluding taxes and price variation.

The state-of-the-art locomotives will be used for freight transport throughout the Indian Railways network and are specified to haul loads of 4,500 tons at a maximum speed of 120 km per hour. Producing 9,000 HP, they will be one of the most powerful freight locomotives in the world. They will be equipped with advanced propulsion systems that are also produced locally in Siemens factories in India. Siemens Mobility will use the power of its Railigent platform to deliver highest availability and performance.

Outlook on green railways for sustainable mobility

Our aim is to be a key partner in India’s quest for safer, greener & smarter railways, making in India for India and the world. The Mobility business has been supporting the Indian Railways’ vision of complete electrification, enhanced haulage capability and building high-technology systems in line with the Make in India initiative. We take great pride in partnering Indian Railways and Metro operators in landmark projects like ‘Vande Bharat’, Electrification & Signaling projects for Mainline and Metros, providing advanced digital solutions and our latest offering the 9000 HP electric locomotives.

What are the future prospects of the Indian Railways?

The Ministry of Railways has been driving upgradation of technology and modernization of infrastructure (track, signaling and telecommunication). With the National Rail Plan 2030 setting the blueprint, investments are expected to further boost development of infrastructure and products under ‘Atmanirbhar Bharat’. Innovation through research, design, manufacturing and digitalization will continue to be key drivers in transformation of Indian Railways.

How big of a role electric loco can play?

Indian Railways has set an ambitious target to cut carbon emissions by more than 450-mn tonnes through optimum usage of Dedicated Freight Corridors vis-à-vis road transport. The 9000 HP locomotives, which will be integral to the efficient operation of the DFCs, are at the core of the Railways’ climate goals. With initiatives like 100% electrification, deployment of sustainable technologies and adoption of sustainable practices, the Railways will be key contributors to the country’s net-zero transition.

Driving this climate goal journey, will be the new generation of state-of-art, highly efficient and eco-friendly 9000 HP locomotives that will combine environmental protection with extreme cost-effectiveness using green technologies to set new standards in freight transport.

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May 11, 2023
Stocks to Watch: Voda Idea, Biocon, ONGC, Eicher Motors, Siemens, Bharat Forge, and Others

The February futures contract of Nifty 50 traded on the Singapore Exchange indicates a negative start to domestic equities. The contract was trading at 17,905, down 22.5 points or 0.13% from the previous close.

Eicher Motors: The two-wheeler major posted a bigger-than-expected 62.4 per cent year-on-year (YoY) jump in the December quarter (Q3FY23) profit, helped by higher motorcycle sales. Sales of Royal Enfield, which generates most of Eicher’s revenue, jumped 31 per cent to 2.1 lakh units.

Siemens: The company clocked 85 per cent YoY rise in consolidated net profit at Rs 462.7 crore in Q3FY23, on the back of higher revenues. In the year-ago period, net profit of the company stood at Rs 250 crore. Total income, meanwhile, rose to Rs 4,116.8 crore Q3FY23 from Rs 3,480.9 crore in Q3FY22.

Vodafone Idea: The telecom major’s net loss widened 10.5 per cent YoY to Rs 7,990 crore in Q3FY23, due to rise in operating expenses and finance costs. On a sequential basis, the net loss widened by 5.2 per cent. Gross revenue, however, surged 9.2 per cent YoY to Rs 10,620 crore, during the quarter.

ONGC: The state-run firm’s net profit rose 6 per cent YoY to Rs 11,045 crore in the Q3FY23, owing to higher prices of gas under the administered price mechanism (APM). Gross revenues, too, rose 35.5 per cent YoY to Rs 38,584 crore in Q3FY23 from Rs 28,474 crore.

Apollo Hospitals: The company registered 33 per cent dip in consolidated net profit to Rs 153 crore in Q3FY23, as compared to Rs 228 crore in Q3FY22. Revenues, on the other hand, rose 19 per cent YoY to Rs 4,264 crore in Q3FY23 as against Rs 3,639 crore, in the year-ago period. Moreover, the company declared interim dividend of Rs 6 per share.

Torrent Power: The company reported 88 per cent YoY growth in its consolidated net profit at Rs 694.54 crore in Q3FY23, on the back of higher income. Total income, meanwhile, climbed to Rs 6,526.44 crore in the December quarter from Rs 3,833.14 crore, in the year-ago period.

Bharat Forge: Auto components major logged 81.35 per cent YoY decline in consolidated net profit at Rs 78.72 crore in Q3FY23, from Rs 422 crore in Q3FY22. That apart, total expenses was at RsRs 3,178.9 crore, up from Rs 2,093.39 crore in the year-ago quarter.

NMDC: The state-owned firm’s consolidated net profit more than halved to Rs 903.89 crore for Q3FY23, mainly on account of lower income. The mining major’s total income also took a hit as it tumbled to Rs 3,924.75 crore from Rs 6,026.68 crore, in the year-ago quarter.

Bata: The footwear maker reported a 15 per cent YoY increase in consolidated net profit at Rs 83.19 crore in Q3FY23, from Rs 72.32 crore in the same period last fiscal. Consolidated revenue from operations, too, rose to Rs 900.21 crore, as compared to Rs 841.3 crore in the year-ago period.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Read all the Latest Business News here

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February 15, 2023
Loco production to cost nearly one-third of current prices – Times of India

NEW DELHI: The Indian Railways has managed to slash the cost of new electric locomotives for freight movement by over two-third to Rs 11 crore per loco compared the current cost of over Rs 30 crore.
The railways made this best price discovery while bidding out the project to manufacture 1,200 high-powered locomotives for freight trains by not setting the benchmark price or bid price, thereby leaving enough room for fierce competition among major players.
The project to produce the locos, each with 9,000 horsepower (HP), has gone to Siemens Ltd. Officials said while production of each such coach is costing around Rs 30 crore, Siemens offered to manufacture them at Rs 11 crore. Even the second lowest bidder— Alstom Transport India Ltd — had quoted Rs 19.5 crore, which was also very competitive.
These locomotives for transport of freight will be manufactured at the Dahod factory in Gujarat.
Sources said the railways went for an innovative and transparent bidding process. “First, we did not mention the project cost in the tender. Second, we followed the best industry practice of putting everything before the bidders. The potential bidders were taken to the site and shown the availability of land so that there was no ambiguity in their minds about land and other approvals,” a railway ministry official said.
He added that the provision of maintenance of the locos for 35 years and that the workforce at the factory will be from railways also proved to be advantageous for the best price discovery. Officials said they will follow the similar exercise for future bids, which is completely hassle-free and all details are in black and white to the bidders.
The maximum speed of these locomotives will be up to 120 kmph and they will be equipped with Kavach, the indigenously designed automatic train protection (ATP) system. The first locomotive is expected to roll out by mid-2024 and all the 1,200 locomotives will be manufactured in the next 11 years.
“The technological partner has been selected through a fair, transparent and competitive bidding process. It will provide training to railway staff at Dahod for manufacturing the 9,000 HP locomotives and at four depots at Visakhapatnam, Raipur, Kharagpur and Pune for maintenance of the locomotives over the design life of 35 years … The technology partner will also ensure 95% availability and 1.5 lakh km of trouble-free operation of locomotives before any mal-operation takes place as the guaranteed Key Performance Indicators (KPIs),” the railway ministry said.

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January 22, 2023
Stocks to Watch: Adani Power, Siemens, ICICI Pru Life, DMart, ONGC, V-Mart, and Others

The January futures contract of Nifty 50 indicates a muted start to domestic equities on Tuesday. The contract was trading at 17,934, down 11 points or 0.06 % from the previous close.

Earnings today: Bank of India, BLB, Chandra Prabhu International, Confidence Finance And Trading, Delta Corp, Dhenu Buildcon Infra, Eiko Lifesciences, Eris Lifesciences, Gulshan Polyols, Hathway Cable and Datacom, ICICI Lombard General Insurance Company, ICICI Prudential Life Insurance Company, Indo Euro Indchem, JJ Finance Corporation, Maharashtra Corporation, Mangalam Industrial Finance, Mastek, Metro Brands, Netowrk18 Media and Investments, Newgen Software Technologies, OCL Iron and Steel, Omkar Overseas, Shalby, Shish Industries, Shree Pushkar Chemicals & Fertiliser, Shri Niwas Leasing And Finance, Tata Investment Corporation, Tata Metaliks, Tiger Logistics (India), Tokyo Finance, Tokyo Plast International, TV18 Broadcast, amd Zodiac Ventures are scheduled to report their October-December quarter results (Q3FY23) on Tuesday.

ONGC: In a late night notification on Monday, Centre announced a cut in its windfall tax on crude to Rs 1,900 ($23.28) per tonne from Rs 2,100 per tonne, effective Tuesday. The government also cut export tax on ATF to Rs 3.5 per litre from Rs 4.5 per litre, and cut export tax on diesel to Rs 5 per litre from Rs 6.5 per litre, the notification said.

Adani Power: DB Power and Adani Power have mutually agreed to further extend the long stop date as February 15, 2023, for achieving the closing/completion.

Bank of Baroda: The Centre has extended the term of office of Sanjiv Chadha as the managing director and chief executive officer (MD & CEO), Bank of Baroda, till the date of his superannuation i.e. 30.06.2023, or until further orders, whichever is earlier.

V-Mart Retail: A fire accident took place at one of the company’s store located at Kanpur, Uttar Pradesh, on Monday. The company informed the exchanges that there was no loss or injury to human life. However, this has resulted in damage of inventory, fixed assets, cash and others in the store, thereby disrupting the operations of the aforementioned store.

PNB Housing Finance: A meeting of board of directors has been scheduled for Tuesday, January 24, to consider raising up to Rs 2,000 crore via non-convertible debentures (NCDs).

M&M: Mahindra & Mahindra Ltd, on Monday, announced pricing for XUV400, its first electric SUV, at a price of Rs 15.99 lakh. The introductory prices are applicable on the first 5,000 bookings for each of the two variants. Mahindra aims to deliver 20,000 units of the XUV400 within a year of its launch.

JSW Ispat Special Products: The company said its consolidated net loss widened to Rs 97.98 crore in the December quarter (Q3FY23) vs loss of Rs 27.12 crore last year. Its total income fell to Rs 1,110.33 crore from Rs 1,476.46 crore during the period of the previous year.

Angel One: Angel One on Monday reported a 38.6 per cent rise in Q3FY23 consolidated profit at Rs 227.98 crore as against Rs 164.5 reported in the year-ago period. Consolidated total revenue from operations rose 25.5 per cent to Rs 759.66 crore as its client base grew by 60.7 per cent to 1.25 crore. The board has recommended dividend of Rs 9.60 a share.

Vikas Ecotech: Vikas Ecotech Limited’s R&D division has announced collaboration with King Khalid University, Saudi Arabia.

Phoenix Mills: The company’s wholly owned subsidiary, Phoenix Logistics and Industrial Parks Private Limited, has completed the acquisition of 100 per cent equity shares of Janus Logistics and Industrial Parks Private Limited for an aggregate consideration of Rs 26.03 crore.

India Pesticides: The company has successfully commissioned Herbicide Technical at their Sandila Plant, which is exclusively for export markets.

Siemens: Capital goods major Siemens on Monday said it had signed a Rs 26,000-crore contract to manufacture 1,200 electric freight locomotives for the Indian Railways. The contract is the single biggest order for Siemens.

NTPC: NTPC Renewable Energy has signed a Memorandum of Understanding (MoU) with the Government of Tripura for development of floating and ground mounted based Renewable Energy Projects in the state.

Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.

Read all the Latest Business News here

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January 17, 2023