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Buy Siemens, target price Rs 2200: Yes Securities

Yes Securities has buy call on with a target price of Rs 2200. The current market price of Siemens is Rs 2045.35. Time period given by analyst is Intra Day when Siemens Ltd. price can reach defined target.

Siemens Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 72780.30 Crore) operating in Engineering sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 3540.00 Crore, up 18.66 % from last quarter Total Income of Rs 2983.30 Crore and up 21.24 % from last year same quarter Total Income of Rs 2919.90 Crore. Company reported net profit after tax of Rs 334.40 Crore in latest quarter.

Investment Rationale
The stock has turned upwards after breaking out of a consolidation pattern and is now approaching levels of Rs 2,200. Further, the RSI has turned upwards after taking support at the 60-level, which happens to be the upper end of the bear zone, confirming the bullishness. Volumes have also picked up in the breakout candle, suggesting higher levels.

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of March 31, 2021, while FIIs held 4.4 per cent, DIIs 10.6 per cent and public and others 10.1 per cent.

(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)

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