ABB India shares end nearly 10% higher on Q1 earnings

Shares of ABB India today ended nearly 10 per cent higher after the company reported a 3.2 per cent rise in net profit for the March quarter this year.
The stock zoomed 9.71 per cent to end at Rs 1,537.80 on BSE. During the day, it soared 13.78 per cent to Rs 1,595.
At NSE, shares of the company jumped 8.97 per cent to settle at Rs 1,532.35.
The company's market valuation rose by Rs 2,883.27 crore to Rs 32,587.27 crore.
In terms of volume, 2.20 lakh shares of the company were traded on BSE and over 14 lakh shares changed hands at NSE during the day.

ABB India yesterday posted 3.2 per cent rise in net profit at Rs 88.17 crore for the March quarter this year.

The company, which follows January-December period as its financial year, had posted a net profit of Rs 85.45 crore in the year-ago quarter.
ABB India said in a BSE filing that its total income was Rs 2,337.36 crore in the first quarter of this year, up from Rs 2,138.53 in the January-March period of 2016.
The company reported a significant year-on-year increase in orders booked, driven by government initiatives and investments.
ABB is a global player in electrification products, robotics and motion, industrial automation and power grids.