Shares of Siemens rose 4 per cent to hit a 52-week high of Rs 1,706 on the BSE on Tuesday, surpassing its previous high of Rs 1,673 scaled on January 11. The stock of heavy electrical equipment manufacturer was quoting close to its record high level of Rs 1,717, touched on October 23, 2019.
In the past two months, the stock has rallied 25 per cent after the company reported healthy operational performance for the September quarter with the improvement in EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin of 180 basis points (bps) year-on-year (YoY) to 12.9 per cent, largely led by a 210 bps YoY expansion in gross margins. The company follows October-September financial year.
