Siemens rose 1.08% to Rs 999 at 11:16 IST on BSE after the company said it sold a land parcel in Bangalore to builder Prestige City Properties for Rs 345 crore.
The company made the announcement after market hours on Thursday, 3 July 2014.
Meanwhile, the BSE Sensex was up 27.36 points, or 0.11%, to 25,851.11.
On BSE, so far 30,000 shares were traded in the counter, compared with an average volume of 52,629 shares in the past one quarter.
The stock hit a high of Rs 1,010 so far during the day, which is also a 52-week high for the counter. The stock hit a low of Rs 992.50 so far during the day. The stock hit a 52-week low of Rs 414.05 on 3 September 2013.
The stock had outperformed the market over the past one month till 3 July 2014, rising 5.30% compared with 3.88% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 29.85% as against Sensex's 14.73% rise.
The large-cap company has an equity capital of Rs 71.22 crore. Face value per share is Rs 2.
Siemens announced that it sold a land parcel in Bangalore on Thursday, 3 July 2014, to Prestige City Properties as part of its continuous asset optimization exercise. The proceeds of the sale is approximately Rs 345 crore, Siemens said.
Net profit of Siemens rose 194.72% to Rs 88.27 crore on 8.60% decline in net sales to Rs 2657.74 crore in Q2 March 2014 over Q2 March 2013.
Siemens, in which Siemens AG holds 75% of the capital, is the flagship listed company of Siemens AG in India. Siemens in India, comprising 13 legal entities (as of 31 December 2013), is a leading powerhouse in electronics and electrical engineering with a business volume aggregating about Rs 12000 crore. It operates in the core business areas of industry, infrastructure & cities, energy and healthcare. It has a nation-wide sales and service network, 23 manufacturing plants and employs about 18,000 people.
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