Buy Siemens, target price Rs 3350: Kotak Securities

Kotak Securities has buy call on Siemens with a target price of Rs 3350. The current market price of Siemens is Rs 3270. Kotak Securities Limited recommended to keep stop loss at Rs 3220.

Siemens, incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 115983.03 Crore) operating in Engineering sector.

Siemens key Products/Revenue Segments include Engineering Goods, Income from Project Development, Sale of services, Other Operating Revenue, Export Incentives, Rental Income and Commission for the year ending 30-Sep-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 4116.80 Crore, down -13.51 % from last quarter Total Income of Rs 4759.90 Crore and up 14.04 % from last year same quarter Total Income of Rs 3610.00 Crore. Company has reported net profit after tax of Rs 462.70 Crore in latest quarter.

The company’s top management includes Mr.Deepak S Parekh, Mr.Sunil Mathur, Mr.Daniel Spindler, Mr.Tim Holt, Mr.Johannes Apitzsch, Mr.Willem Rudolf Basson, Mr.Matthias Rebellius, Ms.Sindhu Gangadharan, Mr.Mehernosh B Kapadia. Company has B S R & Co. LLP as its auditors. As on 31-12-2022, the company has a total of 36 Crore shares outstanding.

Investment Rationale
Post Rs 3100 breakout the stock consistently held higher high and higher low series formations.

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of 31-Dec-2022, while FIIs owned 6.74 per cent, DIIs 8.72 per cent.