Siemens firms up after winning new order

The announcement was made during trading hours today, 1 July 2013.

Meanwhile, the S&P BSE Sensex was up 160.70 points, or 0.83%, to 19,556.51.

On BSE, 16,000 shares were traded in the counter as against an average daily volume of 55,554 shares in the past one quarter.

The stock hit a high of Rs 573.85 and a low of Rs 552.50 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 underperformed the market over the past one month till 28 June 2013, falling 6.61% compared with the Sensex's 3.79% fall. The scrip had also underperformed the market in past one quarter, rising 0.56% as against Sensex's 2.97% rise.

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

A consortium comprising Siemens and Siemens AG has bagged an order worth Rs 248 crore from Delhi Metro Rail Corporation (DMRC) for the electrification of phase III of the Delhi Mass Rapid Transit System (MRTS). Out of the total order value, the value for Siemens is Rs 176 crore and for Siemens AG it is Rs 72 crore.

Siemens said it won the order through an international competitive bidding. This is the first major rail electrification contract awarded by DMRC to the Smart Grid division of Siemens Infrastructure and Cities Sector. The project will be delivered in various phases starting with the Central Secretariat-to-Mandi House phase.

Siemens said the scope of the project includes design, manufacture, supply and commissioning of 25 kilovolt (kV) AC rigid catenary system for over head line electrical supply. The project involves electrification of 26 route-kilometer of tunnels and 42 auxillary sub-stations along the MRTS corridor.

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, in which Siemens AG holds 75% of the equity capital, is the flagship listed company of Siemens AG in India. It is a leading powerhouse in electronics and electrical engineering.

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