Siemens, which had closed yesterday at Rs.2272.90, opened slightly higher at Rs.2276 and went up further to hit a new high at Rs.2470, with volumes rising 4-times.

Post the analysts meet, the stock price saw a surge as the management expects much better growth and a strong order book.

At the end of Q2FY22, the company reported a 32% increase in new orders and expects more orders to come in as it believes that  tendering for private sector capex will pick up in the months ahead.

Following this, many brokerages have either upped their targets or given a “BUY” on the stock.