ABB India shares gain on delisting talk; company denies

ABB India Ltd shares gain 1.4 percent.

Axis Capital says in a report the probability of a delisting in ABB India is increasing.

Axis cites an earnings call with management.

Adds management said new delisting norms are being finalised and would be simpler.

As a result, Axis raises target price to 1,108 rupees from 975 rupees.

ABB spokesman says company "has no plans for delisting".

India's market regulator began a review of stock market delisting rules in May this year.

(Reporting by Abhishek Vishnoi)