Siemens slides

Siemens slipped 0.73% to Rs 595.35 at 13:25 IST on BSE after the company said Siemens AG, Germany has successfully completed the acquisition of Morgan Construction Company, USA.

The stock hit a high of Rs 605 and a low of Rs 587.05 so far during the day. The stock had a 52-week high of Rs 1125 on 23 November 2007 and a 52-week low of Rs 510 on 24 April 2007.

The company’s current equity is Rs 67.44 crore. Face value per share is Rs 2.

The current price of Rs 595.35 discounts its Q1 December 2007 annualized EPS of Rs 46.75, by a PE multiple of 12.73.

Siemens’s net profit rose 100.9% to Rs 197.05 crore on 17.7% growth in net sales to Rs 1,914.43 crore in Q1 December 2007 over Q1 December 2006.

Morgan Construction Company is a rolling mill specialist based in Worcester, Massachusetts, USA. It achieved sales of $230 million in 2007. Morgan Construction will be managed as a Siemens Group company by Siemens VAI Metals Technologies, Linz/Austria, which is a business unit its industry solution division.

Siemens manufactures and distributes switchgear items, electric motors and generators, switchboards, control boards, control systems and protection systems.