Marsons gains on partnership with Siemens

Through the tie-up with Siemens the company hopes to garner orders worth Rs 79.2 crore

Shares of Marsons were locked in 5% upper circuit at Rs 9.64 on the Bombay Stock exchange after the company said it has partnered with engineering major Siemens.

The company in a release said that it has entered into a pre bid tie up with Siemens for tenders worth nearly Rs 132 crore and is hopeful that this will translate into atleast Rs 79.2 crore worth of orders.

The company has also received orders worth nearly Rs 1.98 crore from both Sterling Wilson and L&T, the release added.

The stock opened at Rs 9 and touched a high of Rs 9.64. At 11:35am, over 225,000 shares were traded on the BSE.