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ABB Plunges 5%; BSE CAPITAL GOODS Index Down 1.3%
Mon, 21 Oct 15:29

ABB Plunges 5%; BSE CAPITAL GOODS Index Down 1.3%Image source: Sefa Ozel/www.istockphoto.com

ABB share price has plunged 5% and is presently trading at Rs 8,299.6.

Meanwhile, the BSE CAPITAL GOODS index is at 70,855.8 (down 1.3%).

Among the top losers in the BSE CAPITAL GOODS index today are Siemens (down 4.0%) and Graphite India (down 4.0%).

Lakshmi Machine (up 1.1%) and L&T (up 0.2%) are among the top gainers today.

Over the last one year, ABB has moved up from Rs 4,283.0 to Rs 8,299.6, registering a gain of Rs 4,016.6 (up 93.8%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 48,057.9 to 70,855.8, registering a gain of 47.4% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 130.2%), Siemens (up 108.4%) and Bharat Electronics (up 103.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,125.6 (down 0.1%).

The top losers among the BSE Sensex today are Kotak Bank (down 4.3%) and Bajaj Finserv (down 3.2%). The most traded stocks in the BSE Sensex are HDFC Bank and Tata Steel.

In the meantime, NSE Nifty is at 24,765.3 (down 0.4%). Tata Consumer Products and Kotak Bank are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,428.1 to 81,125.6, registering a gain of 14,697.5 points (up 22.1%).

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 109.3.

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