Siemens gains on plans to sell healthcare business

The company plans to divest its healthcare business to a subsidiary of its parent Siemens AG

Shares of Siemens were up nearly 4% at Rs 1,061 on the Bombay Stock Exchange after the company said it plans to divest its healthcare business.

The board of directors of the company will meet on March 04, 2016 to consider sale of the company's healthcare undertaking to a subsidiary of its parent Siemens AG.

In this connection, the trading window under the Company's Code of Conduct for Prohibition of Insider Trading shall remain closed from March 02, 2016 to March 06, 2016, the release added.

The stock opened at Rs 1050 and touched a high of Rs 1074. At 2:10pm, over 312,000 shares were traded on both the stock exchanges.