To collaborate on EMobility Projects in IndiaSiemens has signed a Memorandum of Understanding (MOU) with Switch Mobility Automotive to jointly address need of electric commercial vehicle customers and execute EMobility Projects in India.
The MOU is aimed at delivering efficient, cost-effective and sustainable E-Mobility solutions to various commercial vehicle customers in India. Switch Mobility will bring its electric commercial vehicle industry experience while Siemens will provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers. Siemens charging infrastructure management software solution would enhance the
energy-efficient operations of chargers.
The two companies will collaborate on new business models such as eMobility-as-a-Service (eMaas), integrated depot energy management, Vehicle-to-Grid (V2G) as well as on-site / off-site renewable
Domestic stocks are trading with small losses in early trade amid mild volatility. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 45.97 points or 0.09% at 49,700.24. The Nifty 50 index was down 6 points or 0.04% at 14,867.80.
The S&P BSE Mid-Cap index was up 0.26%. The S&P BSE Small-Cap index was up 0.69%.
The market breadth, indicating the overall health of the market, is strong. On the BSE, 1349 shares rose and 723 shares fell. A total of 98 shares were unchanged.
Stocks in news:
Infosys rose 0.32%. Infosys announced a strategic long -term collaboration with ArcelorMittal, the world s leading steel and mining company. ArcelorMittal has chosen Infosys to help accelerate the company s digital transformation journey and enable next-generation application management and business process management (BPM) services for ArcelorMittal Europe.
Ashok Leyland rose 1.55% to Rs 124.70 after Switch Mobility Automotive joined hands with Siemens, to address the potential of the e-mobility market in India.
Switch Mobility Automotive and Siemens entered into a Memorandum of Understanding (MoU) towards building a co-operative technological partnership in electric commercial mobility segment and execute eMobility projects in India. The MOU is aimed at delivering efficient, cost-effective and sustainable E-Mobility solutions to various commercialvehicle customers in India.
As part of the MoU, Siemens Financial Services (SFS), the financing arm of Siemens AG, will consider a minority investment in OHM Global Mobility, the eMaas platform company to be formed as a subsidiary of Switch Mobility Automotive.
Shares of Siemens surged as much as 3.8 per cent and hit an intra-day high of Rs 1,912 on the BSE on Friday after the firm signed a memorandum of understanding (MoU) with Ashok Leyland s Switch Mobility Automotive to address need of electric commercial vehicle customers and execute EMobility Projects in India. The MoU is aimed at delivering efficient, cost-effective and sustainable E-Mobility solutions to various commercial vehicle customers in India, the firms said in a joint statement. Switch Mobility will bring its electric commercial vehicle industry experience while Siemens will provide the charging infrastructure technology and charging infrastructure management software solution to enhance the energy-efficient operations of the chargers, it added.
Here are the top stocks to track in today s session:
Bharti Airtel: Department of Telecom (DoT) in an SC affidavit said it is planning to slap Videocon Telecommunications Ltd s adjusted gross revenue (AGR) dues of Rs 1,376 crore on Bharti Airtel. However, Airtel has questioned the legal validity of the demand.
Srei Infrastructure Finance: Its subsidiary Srei Equipment Finance said it had received an expression of interest for up to $250 million capital infusion in the company from international PE funds.
Zensar Technologies: The company has entered into a global strategic partnership with US-based Claimatic. This new, innovative partnership leverages the respective strengths of Claimatic and Zensar to create compelling value for both companies and their mutual clients, the company in its BSE filing said.