Siemens rises on winning two orders from PGCIL

Siemens is trading in the green on the BSE after the company secured two contracts worth Rs 109 crore from Power Grid Corporation of India (PGCIL) to construct and upgrade their 400kV Bachau and 400kV Maithon substations.

The scrip is currently trading at Rs 475.10 per share, up 12.65 points or 2.74% on the BSE.

The stock opened at Rs 465 as compared to its previous close of Rs 462.45. Intraday, the counter touched a high and a low of Rs 478 and Rs 465, respectively.

So far, 14,867 shares of the company were traded on the BSE.

The stock touched its 52-week high of Rs 597.70 on August 4, 2008 and a 52-week low of Rs 186.20 on January 23, 2009.

The stock has gained 12.09% since the past one week and 1.89% since the last one month.

Siemens has secured two contracts worth Rs 109 crore from Power Grid Corporation of India (PGCIL) to construct and upgrade their 400kV Bachau and 400kV Maithon substations.

Siemens’ energy sector will construct a new 400 / 220 kV substation at Bachau and upgrade another two existing substations of GETCO at Limbdi and Ranchodpura in Gujarat. This project is a part of the Associated Transmission System for Ultra Mega Power Project (UMPP) to transmit the bulk power generated by Mundra UMPP to the western region.

The other contract received by the company is for extension of 400kV substations at Maithon in Jharkhand and Biharshariff in Bihar. The Maithon project is under the common scheme for 765kV pooling stations and network for NR and common scheme for network for WR that PGCIL is constructing to transmit power generated from Sasan UMPP to the entire northern region.

The scope of work in both the projects include designing, engineering, manufacture, supply, installation, civil works, testing and commissioning of the complete substations on turnkey basis.

The company will supply the hi-end technology products such as circuit breakers, dis-connectors, instrument transformers and control & protection equipment manufactured at its state-of-the- art factories in Aurangabad, Kalwa and Hyderabad.

The projects are part of PGCIL’s plans to enhance the capacity of the National Grid to more than 37,000 MW by the end of the 11th five year plan (2007-12) through strengthening of the regional grids and building more inter-regional links.

The Siemens Energy Sector is the world’s leading supplier of a complete spectrum of products, services and solutions for the generation, transmission and distribution of power and for the extraction, conversion and transport of oil and gas.