Siemens extends rally on solid outlook; stock zooms 91% thus far in CY 2024

Siemens is best placed to support India in its growth story, whether in energy, infrastructure, manufacturing or mobility, as per analysts

Shares of Siemens hit a new record high of Rs 7,674.95, gaining nearly 4 per cent on the BSE in Friday's intraday trade, extending its past three days' rally, on a solid outlook. In the past four trading days, the stock of the capital goods company has surged 12 per cent. Moreover, it has bounced back 32 per cent from its previous week’s low of Rs 5,822.40 touched on June 4.

Thus far in the calendar year 2024 (CY24), Siemens has outperformed the market by zooming 91 per cent as compared to 6.4 per cent rise in