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ABB Plunges 2%; BSE CAPITAL GOODS Index Down 0.3%
Fri, 28 Jun 13:56

ABB Plunges 2%; BSE CAPITAL GOODS Index Down 0.3%Image source: phive2015/www.istockphoto.com

ABB share price has plunged 2% and is presently trading at Rs 8,458.5.

Meanwhile, the BSE CAPITAL GOODS index is at 72,438.7 (down 0.3%).

Among the top losers in the BSE CAPITAL GOODS index today are GMR Infra (down 2.4%) and TIMKEN INDIA (down 2.1%).

SCHAEFFLER INDIA (up 2.2%) and BHEL (up 2.0%) are among the top gainers today.

Over the last one year, ABB has moved up from Rs 4,280.0 to Rs 8,458.5, registering a gain of Rs 4,178.5 (up 97.6%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 39,563.3 to 72,438.7, registering a gain of 83.1% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 261.6%), HINDUSTAN AERO. (up 184.5%) and Bharat Electronics (up 150.7%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,308.2 (up 0.1%).

The top gainers among the BSE Sensex today are Reliance Ind. (up 2.4%) and Tata Motors (up 2.4%). The most traded stocks in the BSE Sensex are SBI and Tata Steel.

In the meantime, NSE Nifty is at 24,081.8 (up 0.2%). Dr. Reddys and Reliance Ind. are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 62,970.0 to 79,308.2, registering a gain of 16,338.2 points (up 25.9%).

ABB Financial Update...

ABB net profit grew 87.5% YoY to Rs 4,596 million for the quarter ended March 2024, compared to a profit of Rs 2,452 million a year ago. Net sales rose 27.8% to Rs 30,804 million during the period as against Rs 24,112 million in January-March 2023.

For the year ended December 2023, ABB reported 21.7% increase in net profit to Rs 12,482 million compared to net profit of Rs 10,256 million during FY22. Revenue of the company grew 21.9% to Rs 104,465 million during FY23.

The current Price to earnings ratio of ABB, based on rolling 12 month earnings, stands at 122.6.

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