ABB India Shares Surge 11% to 52-Week High

New Delhi, Feb 21 (PTI) Shares of electrification and automation major ABB India surged 11 per cent on Wednesday after the company posted a rise in profit in the December quarter.

The scrip of the company zoomed 10.60 per cent to close at Rs 5,003.95 apiece on the NSE.

On the BSE, shares of ABB India soared 10.33 per cent to end at Rs 4,989.30 apiece.

During the day, ABB India stock hit a 52-week of Rs 5,134 and Rs 5,019 apiece on the NSE and the BSE.

In volume terms, 44.04 lakh equity shares were traded on the NSE, and 1.48 lakh on the BSE during the day.

In broader markets, the 30-share BSE Sensex slumped 434.31 points, or 0.59 per cent, to settle at 72,623.09, while NSE Nifty slipped 141.90 points to close at 22,055.05.

On Tuesday, ABB India posted around 13 per cent rise in Profit After Tax (PAT) to Rs 345 crore in the December quarter, mainly on the back of higher revenues.

It had clocked Rs 306 crore PAT during the October-December period of the preceding fiscal, the company said in a regulatory filing.

The company follows January to December as its financial year.

Total revenue of the company rose to Rs 2,757 crore in the quarter under review, from Rs 2,427 crore in the year-ago period, it added.