Siemens gains after winning order

Siemens rose 0.45% to Rs 1,153.70 at 9:58 IST on BSE after the company said it won an order worth approximately Rs 102 crore for power transmission system in West Bengal.

The company made the announcement after market hours yesterday, 10 December 2015.

Meanwhile, the BSE Sensex was down 44.78 points, or 0.18%, to 25,207.54.

On BSE, so far 4,705 shares were traded in the counter, compared with an average volume of 27,409 shares in the past one quarter.

The stock hit a high of Rs 1,170 and a low of Rs 1,150 so far during the day. The stock hit a 52-week 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 10 December 2015, falling 6.95% compared with 1.91% decline in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 7.99% as against Sensex's 1.44% decline.

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 an order worth approximately Rs 102 crore to supply a 400 kilovolt (kV) gas insulated switchgear (GIS) substation to West Bengal State Electricity Transmission Company (WBSETCL). The scope of the order includes engineering, supply, installation and commissioning of the GIS substation. The 400 kV GIS solution is being manufactured at Siemens' manufacturing plant at Aurangabad, the company said.

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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