Markets

Battle for Alstom's energy division sends Indian units stock price soaring

R. Yegya Narayanan Coimbatore | Updated on March 12, 2018 Published on April 30, 2014

With the two global engineering giants General Electric and Siemens in the race to acquire the energy division of French company Alstom, the shareholders of the latter's Indian subsidiaries seem to be having fun watching their holdings rocketing in value.

It was reported by Alstom that GE had offered €12.53 million ($17.3 billion) to acquire the division of Alstom, which said that the German company Siemens, which is making a bid to acquire Alstom's energy division, would be provided with an opportunity to make a rival offer.

The battle between the two global giants for Alstom's pie had led to the shares of its two Indian subsidiaries gaining in value.

Today, Alstom T&D India shares were up by 8.19 per cent or Rs 21.80 to Rs 288.05 with a trading volume of 7.33 lakh shares. Alstom India Ltd stock vaulted by 15.04 per cent or Rs 61.30 to Rs 469 with 7.42 lak shares being traded. In fact the stock touched a high of Rs 481 on the NSE.

Published on April 30, 2014
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