Siemens corrects on profit booking

Meanwhile, the BSE Sensex was down 9.69 points, or 0.05%, to 20,276.43.

On BSE, 1.37 lakh shares were traded in the counter as against an average daily volume of 59,685 shares in the past one quarter.

The stock hit a high of Rs 627 and a low of Rs 596 so far during the day. The stock had hit a 52-week high of Rs 749.95 on 4 October 2012. The stock had hit a 52-week low of Rs 467 on 9 April 2013.

The stock had outperformed the market over the past one month till 17 May 2013, rising 26.74% compared with the Sensex's 8.30% rise. The scrip had also outperformed the market in past one quarter, rising 9.39% as against Sensex's 4.20% rise.

The large-cap company has an equity capital of Rs 71.10 crore. Face value per share is Rs 2.

Siemens' net profit fell 89.9% to Rs 29.95 crore on 27.1% decline in net sales to Rs 2907.72 crore in Q2 March 2013 over Q2 March 2012.

Siemens said that the difference in net profit is primarily accounted for by a charge of Rs 90 crore in Q2 March 2013 on account of revised estimates of revenues, costs and project related provisions as against credit during Q2 March 2012 of Rs 265.98 crore.

Siemens is a leading powerhouse in electronics and electrical engineering.

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