Siemens trades near record high on strong outlook; surges 25% in two months

The management has indicated that the automotive segment continues to face headwinds especially in passenger vehicles and commercial vehicle segment and going ahead sees recovery to be very gradual

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