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ABB Plunges 2%; BSE CAPITAL GOODS Index Down 1.6%
Wed, 19 Jun 11:15

ABB share price has plunged 2% and is presently trading at Rs 8,640.6.

Meanwhile, the BSE CAPITAL GOODS index is at 72,627.3 (down 1.6%).

Among the top losers in the BSE CAPITAL GOODS index today are SCHAEFFLER INDIA (down 3.4%) and HINDUSTAN AERO. (down 2.8%).

GRINDWELL NORTON (up 4.0%) and AIA Engineering (up 2.9%) are among the top gainers today.

Over the last one year, ABB has moved up from Rs 4,348.8 to Rs 8,640.6, registering a gain of Rs 4,291.8 (up 98.7%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 39,497.4 to 72,627.3, registering a gain of 83.9% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 257.5%), HINDUSTAN AERO. (up 189.6%) and Bharat Electronics (up 156.4%).

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

What About the Benchmark Indices?

The BSE Sensex is at 77,225.6 (down 0.1%).

The top losers among the BSE Sensex today are Titan (down 2.9%) and L&T (down 1.8%). The most traded stocks in the BSE Sensex are Tata Steel and HDFC Bank.

In the meantime, NSE Nifty is at 23,490.1 (down 0.3%). Titan and LTIMINDTREE are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 63,228.5 to 77,225.6, registering a gain of 13,997.1 points (up 22.1%).

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 125.2.

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