Engineering goods manufacturer Siemens Ltd has established a new, wholly-owned subsidiary company ‘Siemens Rolling Stock Pvt Ltd (SRSPL)’ to tap the potential in the Indian rail transportation sector. 

The recently formed firm is a 100 per cent subsidiary of Siemens Ltd, which would handle the Rolling Stock business in India. 

The latest moves comes in the wake of company’s buying land at Aurangabad to set up a facility to manufacture rolling stock, comprising coaches for trains and metros. 

According to the company, the rail transportation sector in India presents a huge business potential with many project plans being announced by the government.

Technical Analyst SP Tulsian suggested in a recent interview that, "one should start investing in the markets once it finds bottom. If an investor is ready to take 5-10% hit on his portfolio from the current levels then he can start investing only in frontline stocks with a 12-month horizon.

In the past nine months, the shares of Siemens have fallen 70% compared with a 48% decline in the benchmark Sensex index of the Bombay Stock Exchange.

Shares of the company were last trading down Rs 33, or 10%, at Rs 295. The total volume of shares traded at the BSE was 247,304. (1.35 p.m., Friday)