Siemens India focuses on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries, a release by CCI said.
Anand Rathi is bullish on Siemens, India has recommended buy rating on the stock with a target price of Rs 1352 in its research report dated August 12, 2020.
Motilal Oswal recommended Neutral rating on Siemens with a target price of Rs 1210 in its research report dated August 11, 2020.
Prabhudas Lilladher is bullish on Siemens has recommended buy rating on the stock with a target price of Rs 1402 in its research report dated August 11, 2020.
Revenue during the quarter fell 59.5 per cent to Rs 1,260 crore from Rs 3,110 crore in the year-ago period, driven by the closure of all factories and project sites on account of COVID-19.
The Munich-based company said on Thursday that the coronavirus crisis has “shown that working independently of a fixed location offers many advantages and is possible on a much wider scale than originally thought.”
Prabhudas Lilladher is bullish on Siemens has recommended buy rating on the stock with a target price of Rs 1402 in its research report dated May 14, 2020.
Total income of the company declined to Rs 2,919.9 crore in the March quarter from Rs 3,661.7 crore in the corresponding period of the previous fiscal.
Revenue of the company declined 4.9 percent at Rs 2,668.6 crore versus Rs 2,807.1 crore, YoY.
Siemens will acquire about 99 per cent of the equity share capital of C&S Electric for around Rs 2,100 crore (nearly EUR 267 million). Closing of the acquisition is subject to regulatory approvals, the statement added.
"They are getting more optimistic for the second half of the year than they have for the first half and actually 2019," Kaeser said in an interview on the sidelines of the World Economic Forum annual meeting in Davos.
On January 11, teenage climate activist Greta Thunberg called for Siemens to review its role in the project.
Prabhudas Lilladher is bullish on Siemens has recommended buy rating on the stock with a target price of Rs 1687 in its research report dated November 21, 2019.
Motilal Oswal, Prabhudas Lilladher, however, maintain a buy call on the stock.
Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 29 points loss. Nifty futures were trading around 11,952-levels on the Singaporean Exchange
For the full year, its net income jumped 21.6 percent to Rs 1,087 crore on an revenue of Rs 13,323.1 crore, up 8.38 percent over the previous year.
GECC Chennai will add talented people as business expands, growing from the current manpower of 85 people to over 100 by end of this year and 200 in the next one to two years, Elangovan Karuppiah, Executive Vice President of Siemens Pte Ltd, said.