Siemens surges 2.43% on the BSE

Siemens has emerged as a top gainer on the BSE Consumer Durables (CG) index. The scrip is currently trading at Rs 483.90 per share, up 11.50 points or 2.43% on the BSE.

The stock opened at Rs 473 as compared to its previous close of Rs 472.40. The stock has touched an intra-day high and a low of Rs 486.55 and Rs 473, respectively.

So far, 31,084 shares of the company were traded on the BSE.

The stock has 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 dropped 0.31% since past one week and 2.09% since past one month.

Recently, the company bagged order from Vedanta Aluminium to provide high voltage power distribution systems for the second phase of expansion of the latter’s Jharsuguda smelter plant at Orissa.

The Rs 112 crore power augmentation package for Phase II will increase the capacity of the smelter plant from 0.5 million tonnes per annum to 1.75 million tonnes per annum, thus Vedanta’s domestic production of aluminium ingots would increase three-fold from the plant.

The scope of work for Siemens will include designing, engineering, supply, installation, testing and commissioning of 33KV and 11KV electrical distribution system. Further, the company will also supply power and distribution transformers, voltage VCB panels, SCADA systems, DC distribution, cabling and other auxiliaries. The project is scheduled for completion by 2010.

The company is also planning to invest Rs 275 crore to expand its steam turbine facility at Vadodara. The proposed expansion program, to be completed by 2010, is slated to triple its existing capacity. The Vadodara unit currently manufactures multi stage steam turbines up to 45 megawatts for industrial applications.

With the expansion, the factory will manufacture steam turbines up to 100 MW. Besides, it would also create job opportunities for 200 people.