Siemens rose 1.25% at Rs 1,270 at 09:21 IST on BSE after the company announced that it has won an order worth approximately Rs 570 crore to supply Static Synchronous Compensator solutions to Power Grid Corporation of India.
The announcement was made after market hours yesterday, 27 June 2016.Meanwhile, the BSE Sensex was up 49.82 points, or 0.19%, to 26,459.34
On BSE, so far 889 shares were traded in the counter, compared with an average volume of 26,278 shares in the past one quarter. The stock hit a high of Rs 1,274.50 and a low of Rs 1,267.10 so far during the day. The stock hit a 52-week low of Rs 969 on 29 January 2016. The stock hit a record high of Rs 1,558 on 6 August 2015.
The large-cap company has an equity capital of Rs 71.22 crore. Face value per share is Rs 2.
Siemens said that the scope of the order includes design, engineering, supply, civil, installation, testing and commissioning of Synchronous Compensator (STATCOMs) at four substation locations of Power Grid Corporation of India (PGCIL) including Ranchi, Rourkela, Kishenganj and Jeypore across the states of Bihar, Jharkhand and Odisha. With fast response time of STATCOM controls, power consumers will be benefitted in the form of constant grid voltage and frequency leading to availability of uninterrupted quality power, Siemens said.
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Siemens' net profit rose 9.61% to Rs 177.42 crore on 4.5% increase in total income to Rs 2810.59 crore in Q2 March 2016 over Q2 March 2015.
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 technologies for combined cycle turbines for power generation, power transmission and distribution solutions, infrastructure solutions for smart cities and transportation, automation and software solutions for industry.
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