Shares of Siemens hit a record high of Rs 2,453.65, on rallying 8 per cent on BSE in Friday’s intra-day trade on strong growth outlook. The stock of capital goods company surpassed its previous high of Rs 2,438.50 touched on November 10, 2021. It was trading higher for the fourth straight day, gaining 13 per cent during the period.
For the financial year ended September 2021, Siemens had reported an increase of 32.4 per cent in new orders, 33.1 per cent in revenue and 40.3 per cent in profit after tax from continuing operations over the previous financial year.
As government investment in infrastructure continues and capacity utilization levels increase, the management believes tendering for private sector capex will pick up in the months ahead.
