Siemens shares fell 2% in morning trade after Macquarie maintained a ‘Neutral’ rating and lowered its target price to ₹6,650. The brokerage’s cautious stance stems from Siemens’ warning of a slowdown in private capex, which accounts for 50-55% of its revenue. Additionally, limited visibility on large-value tenders in mobility and energy raised concerns about the company’s short-term performance.
Siemens also flagged a potential slowdown in railway order inflows and the shifting of railway orders towards Indian Railways’ factories. While sectors like semiconductors and battery technology continue to see robust private capex, traditional segments face sluggish growth. The company expressed concerns over the slow pace of HVDC (high-voltage direct current) orders, with challenges in India’s preference for LCC (line-commutated converter) technology.
Despite these headwinds, Siemens’ diversified portfolio remains a strong point. However, the near-term challenges in private capex and muted large-value tenders are likely to weigh on its performance in FY25 and FY26.
Siemens shares opened at 6,810.00, reaching a high of 6,819.75 and a low of 6,678.85. Over the past 52 weeks, the stock has fluctuated between a high of 8,129.90 and a low of 3,945.25.
As of 10:22 am, Siemens shares were trading 2.02% lower at Rs 6,682.80 on the NSE.
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