Siemens Ltd.'s share price rose on Tuesday as Jefferies said that its unit, Siemens Energy's earning per share growth will double after demerger. A sharp rise in India's power sector investment will drive this growth.
Jefferies sees Siemens Energy being a key beneficiary of $100 billion-plus transmission capex pipeline.
Siemens Energy has recently demerged from the parent company, and it listed on exchanges. As per the approved demerger, shareholders received one Siemens Energy India share for each Siemens share held. The record date and ex-date both fell on Monday. Siemens share price had hit a 20% upper circuit after spin-off.
Siemens Share Price Today
Siemens share price rose 7.77% to Rs 3,031 apiece. It was trading 1.73% higher at Rs 2,862 apiece as of 9:25 a.m., as compared to 1.62% advance in the NSE Nifty 50.
The stock rose 1.53% in 12 months, and declined 11.81% on year-to-date basis. Total traded volume so far in the day stood at 0.66 times its 30-day average. The relative strength index was at 64.42.
Out of 25 analysts tracking the company, 15 maintain a 'buy' rating, five recommend a 'hold' and five suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 20.3%.
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