Siemens stock up 8% on strong Q4 results

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Shares of capital good company Siemens Ltd rallied more than 8% to 1484.50 on the NSE in early trade on Thursday following its decent Q4FY20 earnings. The company follows October-September financial year. Net profit fell 4.7% year-on-year to 330.2 crore in Q4FY20, but exceeded Bloomberg’s analysts’ consensus estimate of 210.10 crore. Similarly, revenue at 3546.8 was down 9% y-o-y, but ahead of consensus forecast of 3046 crore. The company’s board also recommend a dividend payout of 7/share for fiscal year 2020.

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