In the past one week, the stock price of BHEL, Hitachi Energy India, Siemens Energy India and Cummins India have declined between 7 per cent and 12 per cent.
Power equipment stocks plunged for a second day amid reports the government may ease curbs on Chinese firms bidding for contracts. Hitachi Energy, GE Vernova, CG Power fall
Motilal Oswal reiterated its 'Buy' rating on Siemens Energy with an unchanged target price of ₹3,800, an upside of 27 per cent from Wednesday's closing price
Siemens Energy India's revenue from operations jumped 27 per cent year-on-year (Y-o-Y) to ₹2,646 crore, compared to 2,09 crore in the year-ago period
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Siemens Energy, according to analysts, is among only three players in India with High Voltage Direct Current (HVDC) capabilities, giving it an edge in renewable integration and grid stability projects
Revenue was at ₹1,780 crore, with earnings before interest, taxes, depreciation, and amortisation (Ebitda) at ₹340 crore and adjusted PAT of ₹260 crore for Q3FY25
Siemens Energy India on Monday posted an over 80 per cent rise in its net profit to Rs 263 crore in June quarter compared to a year ago, mainly on the back of higher revenues. It had a net profit of Rs 146 crore in the quarter ended June 2024, a company statement stated. The company follows the financial year from October to September. Revenues from operations rose to Rs 1,785 crore in the quarter from Rs 1,484 crore in the same period a year ago. New orders during the quarter rose to Rs 3,290 crore from Rs 1,693 crore recorded a year ago. The company explained that the new order growth was primarily due to large orders received during the quarter given the robust demand both in domestic as well as export markets. The company announced an investment of Rs 280 crore in a phased manner in manufacturing capacity expansion of high-voltage switchgear products at its Aurangabad factory. This expansion will enable the company to meet the growing demand for power transmission equipment,