ABB India Shares Surge 11% to 52-Week High
By Rediff Money Desk, NEWDELHI Feb 21, 2024 17:16
ABB India shares surged 11% on Wednesday, hitting a 52-week high after the company reported a rise in profit for the December quarter. The scrip closed at Rs 5,003.95 on the NSE.
![ABB India Shares Surge 11% to 52-Week High](https://im.rediff.com/money/2021/aug/10bse2.jpg)
Illustration: Uttam Ghosh/Rediff.com
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.
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.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...