Siemens Energy India Ltd.'s shares rose for a second consecutive day to reach a fresh high on Tuesday. The company's second quarter financial results released a day ago heightened investor interest in the recently listed stock.
The company's revenue increased 57% to Rs 1,879 crore in the March quarter, compared to Rs 1,197 crore in the year-ago period. Net profit rose nearly 37% to Rs 246 crore.
The company follows a October-September financial year.
Jefferies said it expects Siemens Energy to see 50% earnings-per-share growth on a compounded annual basis till fiscal 2027. Analysts also project a robust power capex pipeline and operating leverage-linked margin accretion.
It noted that the company is incurring Rs 460 crore capex to double power transformer capacity and add large reactors to its portfolio by December 2025.
Siemens Energy Shares Rise
Siemens Energy share price rose nearly 3.6% intraday to a new record of Rs 3,106.5 apiece on the NSE.
Siemens Energy share price rose nearly 3.6% intraday to a new record of Rs 3,106.5 apiece on the NSE.
Siemens Energy share price rose nearly 3.6% intraday to a new record of Rs 3,106.5 apiece on the NSE. The scrip was trading 2.3% higher as of 11:40 a.m. The benchmark Nifty 50 was flat.
The total traded volume was Rs 238.45 crore with nearly eight lakh shares changing hands, as per NSE data. The relative strength index was 72.
The stock has risen nearly 12% since listing on June 19. It was demerged from Siemens Ltd. in April.
Four analysts tracking the company have a 'buy' rating on the stock and one suggests a 'sell', according to Bloomberg data.
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