Siemens jumps as new orders surge in Q2

Siemens jumped 6.4% to Rs 535 at 13:08 IST on BSE as the company at the time of announcement of Q2 March 2013 results on Friday, 26 April 2013 said its new orders rose 52% to Rs 2814.10 crore in Q2 March 2013 over Q2 March 2012.

Meanwhile, the S&P BSE Sensex was up 38.08 points or 0.2% at 19,324.80.

On BSE, 1.51 lakh shares were traded in the counter as against average daily volume of 49,616 shares in the past one quarter.

The stock hit a high of Rs 541.60 and a low of Rs 501.85 so far during the day. The stock had hit a 52-week high of Rs 799.45 on 27 April 2012. The stock had hit a 52-week low of Rs 467 on 9 April 2013.

The stock had underperformed the market over the past one month till 26 April 2013, falling 4.64% compared with the Sensex's 3.11% gain. The scrip had also underperformed the market in past one quarter, sliding 21.54% as against Sensex's 4.06% fall.

The large-cap company has equity capital of Rs 71.10 crore. Face value per share is Rs 2.

Siemens' net profit fell 89.9% to Rs 29.95 crore on 27.1% decline in net sales to Rs 2907.72 crore in Q2 March 2013 over Q2 March 2012. The company announced Q2 results during market hours on Friday, 26 April 2013. The stock had fallen 3.61% to settle at Rs 502.80 on that day.

Siemens said that the difference in net profit is primarily accounted for by a charge of Rs 90 crore in the Q2 March 2013 on account of revised estimates of revenues, costs and project related provisions as against credit during Q2 March 2012 of Rs 265.98 crore.

Siemens is a leading powerhouse in electronics and electrical engineering. Siemens AG holds 71.65% stake in Siemens (as on 31 March 2013).

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