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ABB Gains 5%; BSE CAPITAL GOODS Index Up 2.3%
Wed, 7 Aug 11:58

ABB Gains 5%; BSE CAPITAL GOODS Index Up 2.3%Image source: Sakorn BernardaSv/www.istockphoto.com

ABB share price has zoomed 5% and is presently trading at Rs 7,842.8.

Meanwhile, the BSE CAPITAL GOODS index is at 71,747.6 (up 2.3%).

Among the top gainers in the BSE CAPITAL GOODS index today are AIA Engineering (up 4.2%) and GMR Infra (up 4.2%).

TIMKEN INDIA (down 2.4%) and Carborundum Universal (down 2.4%) are among the top losers today.

Over the last one year, ABB has moved up from Rs 4,527.4 to Rs 7,842.8, registering a gain of Rs 3,315.4 (up 73.2%).

On the other hand, the BSE CAPITAL GOODS index has moved up from 43,182.8 to 71,747.6, registering a gain of 66.1% during the last 12 months.

The top gainers among the BSE CAPITAL GOODS index stocks during this same period were BHEL (up 209.6%), HINDUSTAN AERO. (up 148.5%) and Bharat Electronics (up 130.7%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,240.3 (up 0.8%).

The top gainers among the BSE Sensex today are MUNDRA PORT & SEZ (up 3.1%) and JSW Steel (up 2.6%). The most traded stocks in the BSE Sensex are Tata Steel and NTPC.

In the meantime, NSE Nifty is at 24,226.2 (up 1.0%). ONGC and Coal India are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,953.5 to 79,240.3, registering a gain of 13,286.8 points (up 20.1%).

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 113.6.

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