Siemens stock soars 9% on strong Q2 results; demerger of energy business

Siemens stock update: In past three trading days, Siemens stock has rallied 17 per cent, while, in past one month, it has zoomed 33 per cent.

Shares of Siemens hit a new high of Rs 7,243.60, as they surged 9 per cent on the BSE in Wednesday's intra-day trade after the company reported a strong 70 per cent year-on-year (YoY) surge in its net profit for the March 2024-ended quarter (Q2FY24) at Rs 803 crore on the back of improved operational performance. Revenue from operations grew by 18.4 per cent YoY to Rs 5,750 crore. The company received new orders of Rs 5,184 crore.

In past three trading days, Siemens has rallied 17 per cent, while, in past one month, it has zoomed 33 per cent.

The company's