Buy Siemens, target price Rs 2040: Yes Securities

Yes Securities has buy call on Siemens with a target price of Rs 2040. The current market price of Siemens Ltd. is Rs 1975.15. 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 70337.31 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
After losing 12 per cent from the record high, the stock is bouncing off the support zone. Sustenance at current levels could attract buying momentum.

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.