Siemens rose 1.81% at Rs 1,269.70 at 11:11 IST on BSE after the company received an order worth about Rs 217 crore for Power Grid Company of Bangladesh project from Siemens AG, Germany.
The announcement was made after market hours yesterday, 3 August 2016.Meanwhile, the BSE Sensex was up 73.24 points, or 0.26%, to 27,770.75
On BSE, so far 14,412 shares were traded in the counter, compared with an average volume of 26,086 shares in the past one quarter. The stock hit a high of Rs 1,270 and a low of Rs 1,236.90 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 stock had underperformed the market over the past one month till 3 August 2016, sliding 4.28% compared with 2.04% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 8.41% as against Sensex's 9.78% rise.
The large-cap company has an equity capital of Rs 71.22 crore. Face value per share is Rs 2.
The latest order is for supply of 400 kilovolt (kV)/230 kV switch yard equipments, reactors, power transformers, fire fighting systems, air-conditioning systems, auxiliary power system, building management systems, illumination systems, AC control and protections, engineering for civil and plant for 500 megawatts (MW) high voltage direct current (HVDC) station. The project is a part of India Bangladesh agreement for power exchange as per South Asia Sub Regional Economic Co-operation (SASEC) by Asian Development Bank (ADB), Siemens said.
Siemens' net profit rose 9.6% 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 focuses on the areas of electrification, automation and digitalization. Parent Siemens AG, Germany currently owns 75% stake in Siemens (as per the shareholding pattern as on 30 June 2016).
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