Siemens drops on profit taking

Siemens lost 1.29% to Rs 564 at 12:30 IST on BSE, with the stock sliding on profit booking after 2-day 7.37% rally.

Meanwhile, the S&P BSE Sensex was up 8.52 points or 0.04% at 20,859.26.

On BSE, 10,000 shares were traded in the counter as against average daily volume of 60,096 shares in the past one quarter.

The stock hit a high of Rs 571 and a low of Rs 563.10 so far during the day. The stock had hit a 52-week low of Rs 414.05 on 3 September 2013. The stock had hit a 52-week high of Rs 698.75 on 13 December 2012.

The stock had outperformed the market over the past one month till 18 November 2013, surging 9.91% compared with the Sensex's 0.15% fall. The scrip had also outperformed the market in past one quarter, advancing 33.46% as against Sensex's 12.11% rise.

The large-cap company has equity capital of Rs 71.22 crore. Face value per share is Rs 2.

Shares of Siemens had rallied 7.37% in two trading sessions to settle at Rs 571.35 on Monday, 18 November 2013 from a recent low of Rs 532.10 on 13 November 2013.

Siemens reported a net loss of Rs 48.83 crore in Q3 June 2013, as against net profit of Rs 36.20 crore in Q3 June 2012. Net sales declined 13% to Rs 2588.39 crore in Q3 June 2013 over Q3 June 2012. The company unveils FY 2013 results on 22 November 2013.

Siemens is the flagship listed company of Siemens AG in India. It is a leading powerhouse in electronics and electrical engineering. Germany's Siemens AG holds 75% stake in Siemens (as per shareholding pattern as on 30 September 2013).

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