The fact that a General Electric spin-off, GE Vernova, unwittingly assisted its rival's resurrection is even more remarkable. Yet the more investors compare the two electrical power-equipment giants, the more the German firm should benefit.
Spun out of Siemens AG in 2020, Siemens Energywas forced to ask Berlin for financial guarantees in 2023 following quality problems and massive losses at its wind unit. From that nadir, the stock price has since increased around sevenfold as investors bet the wind issues won't require a dilutive recapitalisation and began paying more attention to the company's gas turbine and power-grid activities, which are benefitting from rising electricity demand. This year's 300% price gain exceeds that of any other member of the Stoxx Europe 600 index.
Siemens Energy's stock market debut during the early part of a global pandemic was inauspicious: the gas and power activities appeared to be low-growth and were barely profitable, triggering significant restructuring. Things soon got much worse: In 2022, Siemens Energy agreed to pay ₹4 billion to purchase the roughly one-third of shares in power subsidiary Siemens Gamesa it didn't already own.
Denne historien er fra December 24, 2024-utgaven av Financial Express Mumbai.
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Denne historien er fra December 24, 2024-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Shyam Benegal cremated with full state honours
VETERAN FILMMAKER SHYAM Benegal, the pioneer of the parallel cinema movement in Indian cinema in the 1970s and 1980s, was cremated on Tuesday with full state honours and a three-gun salute.
Champions Trophy: India to play Pakistan on Feb 23
INDIA WILL PLAY all their matches of the Champions Trophy in Dubai with the marquee clash against arch-rivals Pakistan scheduled on February 23, the International Cricket Council (ICC) announced on Tuesday.
Net gains: Secured Virat, cautious Rohit gear up
INDIA GOT A chance to bat in the nets on fresher pitches on Tuesday, their last day of training as Christmas day is a rest day for them.
A middle-class meltdown
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EAM in US to boost bilateral ties
IN WHAT IS expected to be the first high-level contact between the incoming Trump 2.0 administration and the Indian government in its third term, external affairs Minister S Jaishankar is likely to meet the new Trump team in the US.
Uniting for greater good
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IOC to invest ₹61K cr for Odisha project
NAPHTHA CRACKER PROJECT IN PARADIP
18% GST on used EV to be paid on seller's margin
A REGISTERED PERSON will have to pay an 18% Goods and Services Tax (GST) on sale of old and used vehicle only if the seller has earned a margin, which is if the selling price is higher than the depreciation adjusted cost price of the vehicle, official sources said.
Changing the lens can make a big difference
Why the campaign rocks: It's great to witness the growing number of gender-forward campaigns, each challenging outdated norm and fostering more inclusive, progressive narratives.
Road to relevance
How to craft a brand strategy that stands the test of time
