Siemens Share Price Today: Stock soars 10%, HITS UPPER CIRCUIT - Here is what investors should do
Jefferies says that 2QFY21 (Mar’ 21) results were above Jefferies expectations. Revenue recovery started from Sept’ 20 qtr, post the national lockdown. Management retained most of the cost control benefits by reporting 13% margins (v/s 8% YoY) and higher than 10% in Mar’ 19. Order flow is up 13% YoY. Jefferies upgrade FY21E-23E EPS (September Y/E) by 8-16% reflecting better revenues and margins and the stock to Buy from Underperform with Rs 2500 PT (v/s Rs 1320)
Jefferies says that Siemens' revenue recovery started in Sept’ 20 qtr, post the lockdown, and is up 8% YoY in Sept’ 20-Mar ‘21 qtrs. Staff cost in this period is up just 2% YoY and other expenses down 31% YoY: Reuters