Strong ordering across verticals, outlook positive; retaining a Buy
Its order-booking stint, which grew ~63% y/y in H1 FY22, continued, taking Siemens OB to a record ~Rs172bn (up 35.5% y/y). Optimism on the pace of its ordering is bright, led by investments (brownfield, greenfield) in various categories like data centres, railways, cement, steel, water, T&D, real estate, other industries. This is further supported by companies’ sustainability focus. Q2 FY22 revenue, though largel...
Buy Siemens Ltd For Target Rs.2,752 - Anand Rathi