ABB India share price jumps 8% in the morning trade today on the back of strong Q1CY24 results. ABB India stock today made an intraday high of Rs 7,784 against its previous close of Rs 7,178. The company’s net profit jumped 88% on a YoY basis to Rs 459.29 crore against Rs 244.89 crore during the same period last year. The company’s margins for the quarter rose to 18.3% from 14% in the same period a year ago.
Brokerages have turned positive on ABB India stock post its solid earnings. UBS has a Buy rating on the stock and has revised its target price higher to Rs 8,830. Jefferies too remains bullish on ABB India shares and has a Buy rating on the stock with a revised target price of Rs 8,845.
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ABB India