Siemens share price rose over 6 percent in early trade on November 26 despite research house Jefferies maintaining underperform rating on the stock with a target of Rs 900 per share.
The Q4 EBITDA was above our estimates due to higher revenues, while other expenses were down 29 percent YoY, said Jefferies.
The gross margins improved 211 bps YoY, despite 9 percent YoY revenue decline, while order flow up 9% percent YoY and debtor days going up 22 percent YoY. The details of Q4 margin sustainability will be keenly watched, it added.
At 09:27 hrs, Siemens was quoting at Rs 1,441.45, up Rs 77.20, or 5.66 percent on the BSE.
The share touched its 52-week high Rs 1,640 and 52-week low Rs 947 on 27 January 2020 and 23 March 2020, respectively.Currently, it is trading 12.11 percent below its 52-week high and 52.21 percent above its 52-week low.