Siemens rises after winning order

Siemens rose 1.09% to Rs 1,253 at 9:22 IST on BSE after the company announced that it has won an order worth about Rs 187.4 crore from Bangladesh Rural Electrification Board, Dhaka.

The announcement was made after market hours yesterday, 23 March 2017.

Meanwhile, the S&P BSE Sensex was up 51.25 points, or 0.17% to 29,383.41.

On the BSE, 2,798 shares were traded in the counter so far, compared with average daily volumes of 24,489 shares in the past one quarter. The stock had hit a high of Rs 1,255 and a low of Rs 1,239.55 so far during the day.

The stock hit a 52-week high of Rs 1,355.40 on 25 July 2016. The stock hit a 52-week low of Rs 1,011 on 9 November 2016.

The stock had outperformed the market over the past one month till 23 March 2017, 1.95% compared with 1.62% rise in the Sensex. The scrip had also outperformed the market in past one quarter, 15.71% as against Sensex's 12.64% rise.

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

Siemens said the project includes construction of new 33/11 kV Air Insulated Switchgear substations in Dhaka, Chittagong and Sylhet. Bangladesh Rural Electrification Board (BREB) is an electricity distribution provider under the Government of Bangladesh responsible for providing electricity to the rural parts of Bangladesh. All the products and solutions delivered for the project have been manufactured in factories at Siemens India.

Siemens' net profit rose 43.8% to Rs 160.01 crore on 1.4% decline in net sales to Rs 2234.38 crore in Q1 December 2016 over Q1 December 2015.

Siemens focuses on the areas of electrification, automation and digitalization. As on 31 December 2016, Siemens AG held 75% stake in Siemens.

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