ABB India shares jump nearly 14% on Q1 earnings

Shares of ABB India today soared nearly 14 per cent after the company posted 3.2 rise in net profit for the March quarter this year.
The stock zoomed 13.78 per cent to touch its one-year high of Rs 1,595 on BSE.
On NSE, it surged 13.34 per cent to Rs 1,593.80 -- its 52-week high.
ABB India yesterday posted 3.2 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 posted 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.