ABB slips after 4-day 28.56% surge

Meanwhile, the BSE Sensex was down 72.09 points, or 0.36%, to 20,151.89.

On BSE, 87,032 shares were traded in the counter as against an average daily volume of 31,884 shares in the past one quarter.

The stock hit a high of Rs 672.45 and a low of Rs 656 so far during the day. The stock had hit a 52-week high of Rs 830 on 12 November 2012. The stock had hit a 52-week low of Rs 469 on 10 April 2013.

The stock had outperformed the market over the past one month till 20 May 2013, rising 35.46% compared with the Sensex's 6.35% rise. The scrip had also outperformed the market in past one quarter, gaining 8.59% as against Sensex's 2.96% rise.

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

Shares of ABB were on a roll recently, surging 28.56% in prior four trading days to Rs 663.35 on 20 May 2013 from a recent low of Rs 516 on 14 May 2013, propelled by a 21.01% rally in a single trading day on 17 May 2013.

ABB on Saturday, 18 May 2013 said it has checked with its majority shareholder who has confirmed that there is no intention to buy additional shares in the Indian unit and thus commence the de-listing process. As on 31 March 2013, promoters held 75% stake in ABB.

ABB's net profit fell 10.7% to Rs 42.56 crore on 10.2% rise in net sales to Rs 1953.36 crore in Q1 March 2013 over Q1 March 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 and employs about 145,000 people.

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