Buy Siemens, target price Rs 3420: ICICI Direct
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.
By ETMarkets.com | Updated:
Agencies
ICICI Direct has buy call on Siemens with a target price of Rs 3420. The current market price of Siemens is Rs 3064.5. Time period given by analyst is 3 months when Siemens price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 2790.
Siemens, incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 109044.02 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
Within the capital goods sector, the brokerage remains constructive on Siemens as it remains in strong uptrend and has generated a breakout above a triangular consolidation of the last four months signalling resumption of up move, thus offering a fresh entry opportunity.
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.
Siemens, incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 109044.02 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
Within the capital goods sector, the brokerage remains constructive on Siemens as it remains in strong uptrend and has generated a breakout above a triangular consolidation of the last four months signalling resumption of up move, thus offering a fresh entry opportunity.
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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.
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