Siemens gains after new order win

Siemens rose 2.63% at Rs 1,238.80 at 12:05 IST on BSE after the company along with Siemens Bangladesh Ltd. won an order worth approximately Rs 113 crore from Power Grid Company of Bangladesh.

The announcement was made during market hours today, 8 June 2016.

Meanwhile, the BSE Sensex was up 46.96 points, or 0.17%, to 27,056.63

On BSE, so far 31,365 shares were traded in the counter, compared with an average volume of 26,011 shares in the past one quarter. The stock hit a high of Rs 1,245 and a low of Rs 1,203.90 so far during the day. The stock hit a 52-week low of Rs 969 on 29 January 2016. The stock hit a record high of Rs 1,558 on 6 August 2015. The stock had underperformed the market over the past one month till 7 June 2016, rising 2.7% compared with 7.06% gains in the Sensex. The scrip, however, outperformed the market in past one quarter, gaining 15.6% as against Sensex's 9.59% gains.

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

Siemens along with Siemens Bangladesh Ltd. has won an order from Power Grid Company of Bangladesh (PGCB) to design, procure, supply, install, test and commission 230/132 kilovolt (KV) gas insulated switchgear substation along with 225/300 Mega Volt Ampere (MVA), 132/33 and 50/75 MVA transformers at Keraniganj within Dhaka. Harald Griem, Executive Vice President and Head, Energy Management Division, Siemens said that with the latest reliable 230KV and 132KV GIS solution from Siemens, PGCB will be able to ensure transmission grid stability and provide better service to consumers across Bangladesh.

Siemens' net profit rose 9.61% to Rs 177.42 crore on 4.5% increase in total income to Rs 2810.59 crore in Q2 March 2016 over Q2 March 2015.

Siemens is the flagship listed company of Siemens AG in India. The company focuses on the areas of electrification, automation and digitalization. It is one of the leading producers of technologies for combined cycle turbines for power generation, power transmission and distribution solutions, infrastructure solutions for smart cities and transportation, automation and software solutions for industry.

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