ABB India climbs on quarterly profit rise

ABB India

21/02/2024 04:27

** Shares of technology co ABB India Ltd  ABB.NS  rise as
much as 6.9% to 4,838 rupees
    ** Co late on Tuesday reported 10.9% rise in qtrly profit to
3.39 bln rupees ($40.9 mln), total rev from ops rose 13.6% Y/Y
    ** Co said growth has come on the back of deepening
engagement into diverse market segments, portfolio expansion and
localization for Indian market
    ** Stock trading above its 200-day simple moving avg since
Feb. 6, 2023 
    ** More than 815,000 shares traded as of 9:44 a.m. IST, 3.5
times their 30-day moving avg
    ** Mean rating of 21 analysts covering the stock is "hold";
median PT is 4,585 rupees - 5.5% lower than the day's high -
LSEG data
    ** Stock up ~3% for the year so far


($1 = 82.8973 Indian rupees)

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))