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ABB Plunges 5%; BSE CAPITAL GOODS Index Down 2.1%
Thu, 19 Sep 13:34

ABB Plunges 5%; BSE CAPITAL GOODS Index Down 2.1%Image source: Chunumunu/www.istockphoto.com

ABB share price has plunged 5% and is presently trading at Rs 7,410.6.

Meanwhile, the BSE CAPITAL GOODS index is at 71,220.4 (down 2.1%).

Among the top losers in the BSE CAPITAL GOODS index today are HINDUSTAN AERO. (down 5.2%) and Bharat Electronics (down 4.5%).

ADANI GREEN ENERGY (up 0.3%) and TIMKEN INDIA (up 0.3%) are among the top gainers today.

Over the last one year, ABB has moved up from Rs 4,318.6 to Rs 7,410.6, registering a gain of Rs 3,092.1 (up 71.6%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 47,095.4 to 71,220.4, registering a gain of 51.2% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were HINDUSTAN AERO. (up 111.0%), BHEL (up 100.8%) and ADANI GREEN ENERGY (up 94.6%).

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

What About the Benchmark Indices?

The BSE Sensex is at 83,179.9 (up 0.3%).

The top gainers among the BSE Sensex today are NTPC (up 2.5%) and Nestle (up 2.1%). The most traded stocks in the BSE Sensex are NTPC and Tata Steel.

In the meantime, NSE Nifty is at 25,411.4 (up 0.1%). NTPC and Nestle are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,596.8 to 83,179.9, registering a gain of 15,583.1 points (up 23.1%).

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 97.6.

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