Buy Siemens, says Aashish Tater

Buy Siemens, says Aashish Tater, Head of Research, Fort Share Broking.

Tater told CNBC-TV18, "Siemens is one stock where we feel there is a technical uptrend; a good portfolio bet and even an angle of parent. The parent recently bought company at Rs 930 a share when the rupee-dollar equation was at Rs 45."
He further added, "The parent whether it is from Germany, US or France - they tend to give two years forward earnings in order to squeeze their shareholding pattern. This means from two years perspective the parent felt that the fair value for the stock could be anywhere around that USD 21-22 mark."
"From that angle on conservative side if you re-impose the rupee dollar equation, we feel the stock from next 24 months perspective should be available at Rs 1,100. From institutional perspective, they tendered at Rs 930 a share and they would again be interested in buying this particular company because this is one company with great parentage. The stock made a technical W which is a double bottom around that Rs 650 mark. This is one stock where the downside is limited, potential upside, a good portfolio bet and a good long term bet, so a buy from our side."