​Shares of Siemens are among today's top gainers. Know why

Shares of Siemens Ltd., the German electronics and infrastructure giant, were the top gainers in the futures and options space after the company reported its quarterly profit surged on the back of a strong show in its power, gas and energy management businesses.

Siemens said its first quarter Net Profit rose 12-fold to 168.3 crore rupees compared with 13 crore rupees in the same quarter a year ago. Sales during April-June percent to 2,375 crore rupees, almost unchanged from the year ago period.

Siemens rose 51.25 rupees, or 3.4 percent, to 1,548 rupees, a record high on the National Stock Exchange, where 4.2 lakh shares were traded by 9:45 am compared with the 5-day average of 3.17 lakh shares.

Siemens' market capitalisation has jumped 72 percent in the past one year to 55,300 crore rupees as investors bought into India's increasing expense on smart cities which have modern means of transport and communications.

Image credit: Indiatimes