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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.

“We might see a bit of a cool off but capex as a theme is here to stay for another two to three years. If you see any correction in these names – be it Siemens, ABB, L&T and the bearing companies etc. One should really look out for buying opportunities there as the cycle is looking quite positive.”

Indian Bank key Products/Revenue Segments include Interest & Discount on Advances & Bills, Income From Investment, Interest On Balances with RBI and Other Inter-Bank Funds and Interest for the year ending 31-Mar-2022.

A total of 98,117 shares changed hands on the counter till 10:30AM (IST).

State Bank of India, incorporated in the year 1955, is a banking company (having a market cap of Rs 534673.49 Crore).

The Nifty IT index was trading 0.23 per cent down at 29380.1.

Stocks that were in focus included names like Jammu and Kashmir Bank which was up nearly 4%, APL Apollo Tubes which rose nearly 2%, and Castrol India which hit a fresh 52-week high on Tuesday.