Siemens up on winning orders from Power Grid

Siemens was trading higher on the BSE after the company bagged two orders aggregating Rs 360 crore from Power Grid Corporation of India (PGCIL).

The scrip is currently trading at Rs 557.30 per share, up 3.65 points or 0.66% on the BSE.

The stock opened at Rs 550 as compared to its previous close of Rs 553.65. Intraday, the counter touched a high and a low of Rs 561.90 and Rs 550, respectively.

So far, 1,32,938 shares of the company were traded on the BSE.

The stock touched its 52-week high of Rs 574.40 on September 17, 2009 and a 52-week low of Rs 186.20 on January 23, 2009.

The stock has gained 0.53% since past one week and 9.67% since past one month.

Siemens has bagged two orders aggregating Rs 360 crore from Power Grid Corporation of India (PGCIL) for turnkey 765kV substation each at Gaya in Bihar and Ranchi in Jharkhand.

The scope of orders envisages design, engineering, manufacturing, supply, installation civil works testing and commissioning of the complete substations on turnkey basis.

The company will supply the high-end technology products such as circuit breakers current transformers, capacitor voltage transformers, disconnectors, surge arrestors and substation automation (control and relay panels as well as SCADA system) for the project.

These substations are green field projects of PGCIL which will transmit power from Damodar Valley Corporation (DVC) Right Bank and will enhance power reliability of National Capital Region (NCR) and WR of India thus helping the state-run entity to support government’s ambitious goal of ‘Power for All by 2012′.

The projects are scheduled for commissioning in 27 months time.

Since the start of this fiscal, the company has received three 765kV substation orders from PGCIL and hence has become the key player in contributing towards enabling the latter in boosting the power transmission infrastructure of the country.

Recently, Siemens had secured two contracts worth Rs 109 crore from PGCIL to construct and upgrade their 400kV Bachau and 400kV Maithon substations.