In its report dated May 19, Jefferies stated: “While this is not a meaningful segment for Siemens’s growth prospects in transmission and railways, it has led to implied loss for investors as it was sold at lower EV/ sales.” The brokerage said the unit accounted for 7% of Siemens India’s FY22 sales and 9% of its profits.
US stocks: US market falls as hot inflation, hawkish Fed fuel rate-hike fears
US stocks closed lower after hotter-than-expected inflation data strengthened expectations of a December Federal Reserve rate hike and raised the possibility of more aggressive tightening.