Buy Siemens, target price Rs 1700: Kotak Securities

Buy Siemens, target price Rs 1700:  Kotak Securities

Kotak Securities has buy call on Siemens with a target price of Rs 1700. The current market price of Siemens Ltd. is Rs 1645.5.

Siemens Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 58884.48 Crore) operating in Engineering sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 3546.80 Crore, up 177.96 % from last quarter Sales of Rs 1276.00 Crore and down -12.14 % from last year same quarter Sales of Rs 4037.00 Crore. Company reported net profit after tax of Rs 330.20 Crore in latest quarter.

Investment Rationale
Strong Bar Reversal formation along with positive Parabolic SAR series suggest uptrend expected to continue in the near term.

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of June 30, 2020, while FIIs held 4.2 per cent, DIIs 10.1 per cent and public and others 10.7 per cent.

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