Buy Siemens With Stop Loss Of Rs 835

Buy Siemens With Stop Loss Of Rs 835Technical analyst Sanjay Surekha maintained 'buy' rating on Siemens Limited stock with a target of Rs 856.

According to analyst, the investors can buy the stock with a stop loss of Rs 835.

The stock of the company, on Feb 18, closed at Rs 845.05 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 884.95 and a low of Rs 653.55 on BSE.

Current EPS & P/E ratio stood at 24.75 and 34.10 respectively.

German MNC Siemens AG announced that it will make an investment of Rs 6,200 crore in an open offer to get hold of another 20% equity stake in its Indian division Siemens Ltd at Rs 930 a share.

The said offer would raise the parent company's equity holding in Siemens Ltd to 75% as against the existing level of 55%.

"The offer includes acquiring up to 6.68 crore equity shares of the company, constituting 19.82 per cent at a price of Rs 930 per equity share in order to consolidate its shareholding in the target company," the company said.

Siemens is increasing its equity holding with the objective of further raising its biz in the Indian market.

Siemens Limited, a top supplier of industry plus infrastructure solutions, registered a marginal increase of 2.2% in its net profit, which stood at Rs 243.79 crore for the three month period ended December 31, 2010.