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ABB Plunges 4%; BSE CAPITAL GOODS Index Down 0.9%
Wed, 23 Oct 14:34

ABB Plunges 4%; BSE CAPITAL GOODS Index Down 0.9%Image source: ThinkNeo/www.istockphoto.com

ABB share price has plunged 4% and is presently trading at Rs 7,852.0.

Meanwhile, the BSE CAPITAL GOODS index is at 68,097.8 (down 0.9%).

Among the top losers in the BSE CAPITAL GOODS index today are BHEL (down 3.0%) and Siemens (down 3.0%).

V GUARD IND. (up 3.5%) and GMR Infra (up 1.7%) are among the top gainers today.

Over the last one year, ABB has moved up from Rs 3,928.9 to Rs 7,852.0, registering a gain of Rs 3,923.1 (up 99.9%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 46,119.3 to 68,097.8, registering a gain of 47.7% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 129.8%), Siemens (up 105.6%) and Bharat Electronics (up 102.8%).

Don't Miss: Key Information for Long-term Investors

What About the Benchmark Indices?

The BSE Sensex is at 80,187.6 .

The top losers among the BSE Sensex today are M&M (down 2.6%) and NTPC (down 2.2%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,455.7 (down 0.1%). M&M and NTPC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 80,187.6, registering a gain of 15,615.7 points (up 24.2%).

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 103.4.

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