Branch2 Intelligence
Hitachi, Siemens Stay Jefferies' Top Picks Even As Govt Opens Door To Select Chinese Firms
Key takeaway
Jefferies reiterates 'buy' on Hitachi Energy India and Siemens Energy India despite government opening to select Chinese firms.
- Step 1Indian government opens door to select Chinese firms in energy equipment, increasing competitive pressure on incumbents.
- Step 2Jefferies reiterates buy on Hitachi Energy India and Siemens Energy India, citing technology moats and service networks as barriers.
- Step 3Selective Chinese entry may lead to price competition and margin compression for incumbents, but also expands the market.
Source: IN:NDTV Profit
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