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As of 30-Sep-2022, promoters held 50.0 per cent stake in the company, while FIIs held 34.83 per cent and domestic institutional investors had 2.71 per cent.

Axis Bank Ltd., incorporated in the year 1993, is a banking company (having a market cap of Rs 268289.60 Crore).

As discussions around Budget 2023 have already started, the market is also speculating around announcements of new rail projects and divestment of government stake in some listed rail firms.

A total of 756 shares changed hands on the counter till 11:01AM (IST)

The global cryptocurrency market cap was trading higher around $820 billion, rising as much as 4% in the last 24 hours. However, the total trading volume dropped almost 6% to $62.21 billion.

“The export market has picked up for defence companies. Any medium term investor can invest in these companies on any correction, One has to keep in mind that two years down the line we have elections and depending on the new government formation, the new policies will always be a trigger on the government companies.”

Amid hopes for a forthcoming policy pivot from the US Federal Reserve, FIIs have once again turned net buyers this month after selling Indian equities worth over Rs 1,38,000 crore so far in the calendar year 2022.

On the technical charts, the RSI of the stock stood at 57.63.

The stock traded at a P/E multiple of 35.04, while the price-to-book value ratio stood at 2.55.

Macquarie maintained its outperform rating on Siemens with a target price of Rs 3,020 even though margins and order inflow disappointed were below expectation. However, the execution was in-line and the company recorded a strong margin performance in Smart infrastructure, the brokerage said. Energy and Mobility margins were below 10% for the last two consecutive quarters, it added.