Siemens gains after winning two orders

Siemens rose 2.38% to Rs 1,001.20 at 12:20 IST on BSE after the company announced of winning two orders aggregating around Rs 267 crore.

The separate announcements of order wins were made by the company during market hours today, 22 January 2016.

Meanwhile, the BSE Sensex was up 406.57 points, or 1.70%, to 24,380.71.

On BSE, so far 16,681 shares were traded in the counter, compared with an average volume of 30,785 shares in the past one quarter. The stock hit a high of Rs 1,009.80 and a low of Rs 981.65 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 958.10 on 21 January 2015. The stock had underperformed the market over the past one month till 21 January 2016, declining 16.75% compared with 6.89% decline in the Sensex. The scrip had also underperformed the market in past one quarter, dropping 27.54% as against Sensex's 12.19% fall.

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 order approximately worth Rs 112 crore from Rajasthan Rajya Vidyut Prasaran Nigam, a state power transmission utility owned by Government of Rajasthan and headquartered in Jaipur. The scope of work for the project involves engineering, supply, installation, testing and commissioning of 400kV/220kV air insulated substations.

Separately, Siemens also announced that together with Siemens Malaysia, it has won order approximately worth Rs 155 crore from Malaysia-based PSI International, one of the largest petrochemical companies of the world and a subsidiary of Petronas. The scope of work for the project involves supply of 420kV gas insulated switchgear for PSI International's new petrochemical (RAPID) Greenfield project.

Siemens' net profit fell 49.8% to Rs 219.13 crore on 3.9% rise in net sales to Rs 3231.30 crore in Q4 September 2015 over Q4 September 2014.

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 energy-efficient, resource-saving technologies; combined cycle turbines for power generation; and power transmission solutions.

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