Siemens ecstatic on bagging electrification project in Qatar
Siemens jumped 7% to Rs 1,300, after it won a large overseas order.
As many as 6.1 lakh shares changed hands in the counter on BSE.The stock had gained nearly 4% on Tuesday (21 November) to Rs 1,213.25, ahead of the news. The stock had surged last month, only to cool off later. From Rs 1,264.45 on 3 November, the scrip had slipped to Rs 1,169.90 by 20 November.
Siemens and its consortium with Siemens AG, Germany, today 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.
The company is sitting on a large order-book and orders keep flowing into its kitty. The unexecuted order-book, as on 30 June 2006, is Rs 7,722 crore.
The power generation, power transmission & distribution, automation and drives are expected to be the principle drivers for Siemens in the near term, analysts reckon. Further, Siemens is largely insulated from volatility in price of inputs due to the price variation clause as far as orders from domestic power utilities are concerned.
For Q3 June 2006, Siemens registered 43% growth in net profit to Rs 56.52 crore, on 76% growth in sales to Rs 1,052.27 crore. Siemens announces Q4 September 2006 results tomorrow.
As many as 6.1 lakh shares changed hands in the counter on BSE.The stock had gained nearly 4% on Tuesday (21 November) to Rs 1,213.25, ahead of the news. The stock had surged last month, only to cool off later. From Rs 1,264.45 on 3 November, the scrip had slipped to Rs 1,169.90 by 20 November.
Siemens and its consortium with Siemens AG, Germany, today 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.
The company is sitting on a large order-book and orders keep flowing into its kitty. The unexecuted order-book, as on 30 June 2006, is Rs 7,722 crore.
The power generation, power transmission & distribution, automation and drives are expected to be the principle drivers for Siemens in the near term, analysts reckon. Further, Siemens is largely insulated from volatility in price of inputs due to the price variation clause as far as orders from domestic power utilities are concerned.
For Q3 June 2006, Siemens registered 43% growth in net profit to Rs 56.52 crore, on 76% growth in sales to Rs 1,052.27 crore. Siemens announces Q4 September 2006 results tomorrow.
posted by SY at 4:24 PM
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