Siemens jumps on bagging Qatar order

DALAL STREET SPIKES

Siemens shot up 9.67 per cent to close the day at Rs 1,330.65 on news of the company winning an overseas order. Siemens and its consortium with Siemens AG, Germany, on Wednesday bagged a contract worth Rs 4,000 crore from the Qatar General Electricity and Water Corporation (KAHRAMAA) for Phase VII of the Electrical Grid in Qatar.

Siemens' share of the power transmission & distribution contract is pegged at Rs 3,600 crore. As many as 8.63 lakh shares changed hands on the counter on Wednesday.

The company has a good order book position. The unexecuted order-book, as on 30 June 2006, is Rs 7,722 crore. The company's net profit saw a growth of 43 per cent to Rs 56.52 crore for the June quarter. At Rs 1052.27crore, the company's sales were up 76 per cent.