ABB extends rally in a weak market on strong Q1; stock up 17% in 3 days

Analysts believe that increased traction in exports and services coupled with strong execution drove ABB's strong performance across segments.

Shares of ABB India were up 5 per cent to Rs 2,358 on the BSE in Monday’s intra-day trade in an otherwise a weak market. The stock has surged 17 per cent in the past three trading days after the company reported a solid performance in the March quarter (Q1CY22).

In the past one week, the stock has outperformed market by 13 per cent, as compared to 5 per cent decline in the S&P BSE Sensex. In one month, it was up 4 per cent against 9 per cent fall in the benchmark index. Earlier, the stock had hit a 52-week