Kotak has added ABB to the recommended model portfolio after the 36 per cent correction in the past six months. Its valuations, the brokerage said, look reasonable at 54X FY2026E EPS
Within the large-cap 100 universe, stocks from Adani group - Adani Green Energy and Adani Energy Solutions - have witnessed a 63 per cent and 54 per cent fall in their PE since September 2024-end
A key factor influencing the change in target price is ABB India's disappointing order inflow, which missed expectations by 24 per cent, highlighting potential challenges in the near-term
The rise in ABB India share came after the company announced a strong set of results in the fourth quarter of calendar year 2024 (Q4CY24)
In its press release, the company stated that the full year saw its highest-ever order book of Rs 13,079 crore and revenue of Rs 12,188 crore
The NSE derivatives data show that FIIs continue to hold a bearish bias, with 8.5 short positions in index futures for every long bet.
The BSE Capital Goods index slipped 4.6% in intra-day trades today, falling 7.5% in 2 days after the finance minister presented the Union Budget 2025-26 in the Parliament on Saturday
RVNL, Bharat Dynamics, Hitachi Energy India, Siemens, ABB India, Titagarh Rail Systems, CG Power and Industrial Solutions, Bharat Electronics and L&T down in the range of 5 per cent to 10 per cent.
ABB India share price news: ABB India is scheduled to report its Q3FY25 results on February 17, 2025
Some large orders were postponed and government capex has seen delays
The fall in ABB India share price came after the company's Q3CY24 results fell short of street expectations
For the quarter under review, profit after tax (PAT) for the company was Rs 440 crore, which the company said "was driven by capacity utilisation, efficiencies, and revenue quality."
ABB India on Monday reported over 21 per cent rise in profit after tax at Rs 440 crore for the third quarter ended September 30, pushed by higher income. It had posted Rs 362 core profit after tax (PAT) in July-September period a year ago, the company said in an exchange filing The company follows January to December as financial year. Total income increased to Rs 3,005.05 crore from Rs 2,846.01 crore in the year-ago period. "We have delivered another quarter of consistent performance, creating balanced and profitable growth for our stakeholders and deepening engagement with our customers. The quarter was marked by record levels of backlog complemented by a strong book to bill and cash," the company's Managing Director, Sanjeev Sharma said in a statement. The large orders emerged from diverse sectors like transportation, metals, and even new ones like data centers. This provides each division the flexibility to leverage opportunities as per their business cycles and bandwidth and