ABB India at 8-month low on Q3 profit miss

ABB India

05/11/2024 07:01

** Shares of ABB India  ABB.NS  plunge 5% to 6,992.65
rupees, lowest since early-May 
    ** Engineering firm reported Q3 profit of 4.4 bln rupees
($52.3 mln), behind analysts estimate of 5.42 bln rupees, per
LSEG data 
    ** Stock eyes busiest trading session since mid-May, volumes
at 4.6x the 30-day avg 
    ** Analysts' avg rating on stock is "hold", median PT is
8,222.50 rupees - LSEG data 
    ** ABB up ~50% YTD 
    


($1 = 84.1175 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))