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ABB Plunges 4%; BSE CAPITAL GOODS Index Down 1.7%
Thu, 18 Jul 10:25

ABB Plunges 4%; BSE CAPITAL GOODS Index Down 1.7%Image source: DNY59/www.istockphoto.com

ABB share price has plunged 4% and is presently trading at Rs 7,945.0.

Meanwhile, the BSE CAPITAL GOODS index is at 73,219.9 (down 1.7%).

Among the top losers in the BSE CAPITAL GOODS index today are HINDUSTAN AERO. (down 4.4%) and Siemens (down 3.9%).

SCHAEFFLER INDIA (up 2.4%) and GRINDWELL NORTON (up 0.8%) are among the top gainers today.

Over the last one year, ABB has moved up from Rs 4,416.9 to Rs 7,945.0, registering a gain of Rs 3,528.2 (up 79.9%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 41,426.7 to 73,219.9, registering a gain of 76.7% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 238.0%), HINDUSTAN AERO. (up 167.0%) and Bharat Electronics (up 149.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 80,825.8 (up 0.1%).

The top gainers among the BSE Sensex today are SBI (up 1.3%) and Hindustan Unilever (up 1.0%). The most traded stocks in the BSE Sensex are Tata Steel and SBI.

In the meantime, NSE Nifty is at 24,642.0 (up 0.1%). LTIMINDTREE and ONGC are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,589.9 to 80,825.8, registering a gain of 14,235.8 points (up 21.4%).

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 115.1.

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