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While the demerger process has been initiated, uncertainty on the timelines of listing Siemens Energy continues (likely in H2 2025).
Siemens partnership aims to enhance Intel's factory operations, particularly focusing on EUV technology.
Siemens stated in an exchange filing that it has been accused in the order of underpaying service tax liabilities to the extent that they are due for the discrepancies between the values reported in financial statements and service tax filings for the fiscal years 2008–09, 2010–11, and 2011–12.
Recent crisis at Siemens Energy finally triggered Siemens AG to pursue demerger and listing of the Energy vertical in India, which until now was retained as part of the listed entity despite global changes.
The stake is now worth roughly $3.4 billion, and a partial sale would be a rapid solution for the German manufacturer.
The notice relates to the imposition of GST on the freehold interest in the buildings on the property as well as the leasehold interest in a plot of land in Worli, Mumbai.
Siemens inked a Rs 26,000 crore ($3.25 billion) contract with Indian Railways earlier this year.
The shares of HCL Tech have been rising steadily for the last eight sessions, rising 9.54% during that time.
Shares of the business were down 2.07% to Rs 3,701 at 13:25 p.m. on the BSE.
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www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Copyright © IIFL Securities Ltd. All rights Reserved.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This certificate demonstrates that IIFL as an organization has defined and put in place best-practice information security processes.