Siemens rose 1.30% to Rs 1,187.80 at 14:50 IST on BSE after the company launch of its new range of energy efficient low voltage motors in India.
The announcement was made during trading hours today, 18 January 2017.Meanwhile, the BSE Sensex was up 21.63 points, or 0.08%, to 27,257.29.
On the BSE, so far 16,000 shares were traded in the counter, compared with average daily volumes of 18,409 shares in the past one quarter. The stock had hit a high of Rs 1,199.55 and a low of Rs 1,173 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 969 on 29 January 2016. The stock had outperformed the market over the past 30 days till 17 January 2017, rising 5.72% compared with the 3.26% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 4.70% as against Sensex's 2.68% decline.
The large-cap company has equity capital of Rs 71.22 crore. Face value per share is Rs 2.
Siemens announced the launch of its new range of energy efficient motor SIMOTICS 1LE7. The new SIMOTICS 1LE7 range of motors is the newest entrant in the existing range of motors offered by Siemens in India. These motors offer efficiency values higher than the IE3 standards - which is currently the highest efficiency class as recognized by Indian Standards. Siemens SIMOTICS 1LE7 motors are capable of offering an average monetary savings of up to 8-20% depending on the frame size. Apart from generating savings, the SIMOTICS 1LE7 range of motors will assist customers to reduce lifecycle costs, and meet environmental regulations.
Bhaskar Mandal, executive vice president and country division lead, process industries & drives division, Siemens India, said SIMOTICS 1LE7 will prove to be a reliable and efficient innovation which will boost the performance of energy intensive industries like cement, metals, mining, power, textiles, pulp and paper to achieve significant reduction in energy consumption and thus reduce costs of operation and their carbon footprint.
Net profit of Siemens rose 1025.8% to Rs 2466.95 crore on 7.5% decline in net sales to Rs 2990.30 crore in Q4 September 2016 over Q4 September 2015.
Siemens focuses on the areas of electrification, automation and digitalization.
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