Analysts bullish on ABB India's biz outlook; stock zooms 19% in two days

ABB, analysts said, is benefiting from demand tailwinds emerging from high-growth areas such as renewables, data centers, railways, metros, and electronics

Shares of ABB India hit a new high of Rs 5,374.45 as they rallied 8 per cent on the BSE in Thursday's intraday trade, amid heavy volumes, in an otherwise weak market on strong business outlook.

In the past two trading days, the stock of the heavy electric equipment company has zoomed 19 per cent after the company's fiscal 2023 ended with a record-high performance, achieving its highest-ever quarterly revenues in the last five years.
 

At 10:24 am, ABB was quoting 6 per cent higher at Rs 5,294.25 as compared to 0.72 per cent decline in the S&P BSE