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ABB Plunges 3%; BSE CAPITAL GOODS Index Down 1.0%
Mon, 2 Sep 13:40

ABB Plunges 3%; BSE CAPITAL GOODS Index Down 1.0%Image source: phive2015/www.istockphoto.com

ABB share price has plunged 3% and is presently trading at Rs 7,685.9.

Meanwhile, the BSE CAPITAL GOODS index is at 72,427.8 (down 1.0%).

Among the top losers in the BSE CAPITAL GOODS index today are SCHAEFFLER INDIA (down 2.3%) and Bharat Forge (down 2.0%).

ADANI GREEN ENERGY (up 4.1%) and Lakshmi Machine (up 2.4%) are among the top gainers today.

Over the last one year, ABB has moved up from Rs 4,317.4 to Rs 7,685.9, registering a gain of Rs 3,368.5 (up 78.0%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 44,941.0 to 72,427.8, registering a gain of 61.2% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 149.0%), HINDUSTAN AERO. (up 140.2%) and Bharat Electronics (up 119.5%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 82,486.6 (up 0.1%).

The top gainers among the BSE Sensex today are Bajaj Finserv (up 3.3%) and HCl Tech. (up 3.2%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 25,254.6 (up 0.1%). HCl Tech. and Bajaj Finserv are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,075.8 to 82,486.6, registering a gain of 17,410.7 points (up 26.8%).

ABB Financial Update...

ABB net profit grew 49.6% YoY to Rs 4,426 million for the quarter ended June 2024, compared to a profit of Rs 2,958 million a year ago. Net sales rose 12.8% to Rs 28,309 million during the period as against Rs 25,086 million in April-June 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 101.2.

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