Buy Siemens, target price Rs 3100: Motilal Oswal Financial Services

Motilal Oswal Financial Services has buy call on Siemens with a target price of Rs 3100.The current market price of Siemens Ltd. is Rs 3002.4. Motilal Oswal Financial Services recommended to keep stop loss at Rs 2900.

Siemens, incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 106729.24 Crore) operating in Engineering sector.

Siemens key Products/Revenue Segments include Engineering Goods, Income from Project Development, Sale of services, Other Operating Revenue, Rental Income, Export Incentives and Commission for the year ending 30-Sep-2021.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 4759.90 Crore, up 9.75 % from last quarter Total Income of Rs 4337.00 Crore and up 9.21 % from last year same quarter Total Income of Rs 4358.30 Crore. Company has reported net profit after tax of Rs 652.30 Crore in latest quarter.

The company’s top management includes Mr.Deepak S Parekh, Mr.Sunil Mathur, Mr.Daniel Spindler, Mr.Johannes Apitzsch, Mr.Tim Holt, Mr.Matthias Rebellius, Ms.Anjali Bansal, Mr.Mehernosh B Kapadia, Mr.Willem Rudolf Basson. Company has B S R & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 36 Crore shares outstanding.

Investment Rationale
The stock negated its lower highs of the last four weeks with price volume breakout and follow-up buying.

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of 30-Sep-2022, while FIIs owned 5.42 per cent, DIIs 9.5 per cent.