India's ABB falls after quarterly results; broker downgrades on margin concerns

ABB India

11/05/2026 06:55

** Shares of India's ABB India ABB.NS fall 9.15% to 6,371 rupees

** Electrical equipment maker's quarterly profit from continuing operations fell 25% y/y

** Higher raw material costs, up 11%, lift total expenses by 13.4%

** Brokerages see sustained margin pressure amid weak pricing power, cost inflation

** HSBC downgrades to "reduce" from hold; cuts PT by 200 rupees to 5,200 rupees; expects ~13% EPS CAGR over FY2025-FY28

** Kotak Institutional Equities downgrades to "sell" from reduce; cuts earnings estimates by 3%-4%

** Macquarie cuts PT by 400 rupees to 5,470 rupees; trims EBITDA margin estimates by ~50bps over CY26-CY28

** YTD, stock up ~23.1%

($1 = 95.1325 Indian rupees)

 (Reporting by Bipasha Dey in Bengaluru)

 ((Bipasha.Dey@thomsonreuters.com;))