Siemens stock crashes 10% to record biggest intraday fall since June. Here’s why
4 days, 19 hours ago

Siemens stock crashes 10% to record biggest intraday fall since June. Here’s why

Live Mint  

Stock market today: Shares of Siemens, a major player in the heavy electrical equipment sector, fell 10% in trade on Friday, December 20, hitting a one-month low of ₹6,868 per share, following the company's September quarter earnings call. Further, the management noted that the energy business is experiencing strong demand in the transmission segment, driven by a shift towards renewables, with the HVDC segment expected to be a key growth driver moving forward. Siemens India's digital industries business is currently facing challenges due to the ongoing semiconductor shortage and some destocking by customers, the report added. During the quarter, the company secured new orders worth ₹6,164 crore, with strong demand across all business segments.

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