Siemens gains after winning order

Siemens rose 1.77% to Rs 1,186 at 13:23 IST on BSE after the company said it won an order worth approximately Rs 377 crore from Indian Railways.

The announcement was made during trading hours today, 7 December 2015.

Meanwhile, the BSE Sensex was down 93.77 points, or 0.37%, to 25,544.34.

On BSE, so far 28,000 shares were traded in the counter, compared with an average volume of 25,901 shares in the past one quarter.

The stock hit a high of Rs 1,190 and a low of Rs 1,154.10 so far during the day. The stock hit a record high of Rs 1,558 on 6 August 2015. The stock hit a 52-week low of Rs 795.50 on 17 December 2014.

The stock had underperformed the market over the past one month till 4 December 2015, sliding 10.65% compared with 3.45% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 1.36% as against Sensex's 1.73% rise.

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

Siemens announced that it has won a crucial order approximately worth Rs 377 crore from Indian Railways' Diesel Locomotive Works (DLW), Varanasi. The scope of work for the project involves supply of 1,890 traction motors for 4,500 horsepower (HP) diesel electric locomotives. The traction motors will be produced at Kalwa factory of Siemens.

Siemens' profit after tax before exceptional items rose 13.5% to Rs 173 crore in Q4 September 2015 over Q4 September 2014. Revenue from continuing operations rose 10.9% to Rs 3231.30 crore in Q4 September 2015 over Q4 September 2014. It may be recalled that Siemens hived off its Metal Technologies business with effect from the close of business on 31 December 2014.

Siemens, in which Siemens AG holds 75% of the capital, 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 energy-efficient, resource-saving technologies; combined cycle turbines for power generation; and power transmission solutions.

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