ABB India slides on profit booking

ABB India rose 2.93% to Rs 615.75 at 13:45 IST on BSE on profit booking after the stock rose 17.17% in the preceding five trading sessions to Rs 634.35 on 24 October 2013, from a recent low of Rs 541.40 on 17 October 2013.

Meanwhile, the BSE Sensex was up 35.87 points, or 0.17%, to 20,761.30.

On BSE, 7,846 shares were traded in the counter compared with average volume of 21,083 shares in the past one quarter.

The stock hit a high of Rs 630 and a low of Rs 613.45 so far during the day. The stock hit a 52-week high of Rs 830 on 12 November 2012. The stock hit a 52-week low of Rs 448.10 on 30 August 2013.

The stock had outperformed the market over the past one month till 24 October 2013, rising 14.76% compared with the Sensex's 4.04% rise. The scrip had also outperformed the market in past one quarter, rising 12.62% as against Sensex's 3.16% rise.

The large-cap company has an equity capital of Rs 42.38 crore. Face value per share is Rs 2.

ABB India will declare Q3 September 2013 results on 6 November 2013. The company's net profit fell 23.07% to Rs 40 crore on 7.42% decline in revenue to Rs 1720 crore in Q2 June 2013 over Q2 June 2012.

ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries.

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