Siemens gains on strong growth in order intake in Q3

Siemens rose 1.54% to Rs 1,274 at 10:09 IST on BSE after the company's announcement at the time of unveiling Q3 June 2016 results that its order inflow jumped 44.3% at Rs 3224.25 crore in Q3 June 2016 over Q3 June 2015

Meanwhile, the S&P BSE Sensex was up 251.66 points, or 0.91%, to 27,966.03.

On BSE, so far 17,000 shares were traded in the counter, compared with an average daily volume of 26,231 shares in the past one quarter. The stock hit a high of Rs 1,291.90 and a low of Rs 1,250 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 969 on 29 January 2016. The stock had underperformed the market over the past one month till 4 August 2016, falling 2.60% compared with 1.60% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 10.60% as against Sensex's 10.41% rise.

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

Shares of Siemens had edged lower ahead of Q3 results. The stock fell 6.06% in three trading sessions to settle at Rs 1,254.70 yesterday, 4 August 2016, from its close of Rs 1,335.65 on 1 August 2016.

Siemens's net profit fell 22.72% to Rs 130.03 crore on 8.81% increase in total income to Rs 2648.28 crore in Q3 June 2016 over Q3 June 2015. The company said in its Q3 June 2016 results press release that the decline in bottom line on year on year basis in Q3 June 2016 was mainly due to one-time costs and adverse exchange rates.

Sunil Mathur, managing director and chief executive officer Siemens said that the company has delivered a satisfactory financial performance in a difficult economic environment. New orders continued to flow from railways, transmission and distribution projects though private sector capex is still muted, he added.

Siemens has declared a special interim dividend of Rs 27.50 per equity share for the year ending 30 September 2016 as it received funds from the sale of its healthcare undertaking. The company has sold the healthcare undertaking as a going concern on a slump sale basis to Siemens Healthcare, a subsidiary of parent Siemens AG, Germany. The gains on the sale will be reflected in the results for Q4 September 2016, the company said in a statement. The stock offers a dividend yield of 2.19% based on the closing price of Rs 1,254.70 yesterday, 4 August 2016.

The company has fixed 17 August 2016 as the record date for the purpose of payment of special dividend. The payment of special dividend will commence from 23 August 2016.

Siemens focuses on the areas of electrification, automation and digitalization.

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