ABB India falls on valuation concerns, parent's AI worries
BUZZ-ABB India falls on valuation concerns, parent's AI worries ** Shares of ABB India ABB.NS down 6.3% at 6,535 rupees
** Set for largest intraday decline since May 11
** Parent ABB ABBN.S fell about 6% on Oct 20 as AI investment concerns weighed, despite strong data center demand driving Q3 orders up 40% to $12 billion
** Citi maintains "sell" rating, citing unfavorable risk-reward at current valuations
** Notes the parent's strong India order commentary on electrification and data centers may not fully benefit the listed Indian entity
** Cautions that valuations need sustained order execution and margin expansion as comparisons toughen from Q4
** Stock rated "hold" on average by 28 analysts; median PT is 7,019 rupees - data compiled by LSEG
** Stock up about 28% YTD
(Reporting by Mridula Kumar in Bengaluru)