Axis Capital has upgraded its rating on ABB India from “Reduce” to “Buy,” citing a favorable entry point for investors following a recent correction in the stock. The brokerage anticipates a diversified capital expenditure upcycle over the medium term, which is expected to drive growth for the company. The target price has been increased to ₹9,340 from the previous ₹8,190, implying a potential upside of approximately 20% from the current market price. As of the latest trading session, ABB India is priced at ₹7,905.75, reflecting an increase of ₹115.35 or 1.48%.
Market Performance
ABB opened today at ₹7,828.70, reaching a high of ₹8,024.25 and a low of ₹7,828.70. The stock’s positive momentum is supported by expectations of increased capital expenditure in various sectors, which could enhance ABB’s performance in the coming quarters.
With the upgrade from Axis Capital, ABB India is positioned as an attractive investment opportunity. Investors are encouraged to consider this recommendation, especially in light of the anticipated capital expenditure upcycle that is expected to benefit the company in the medium term.
Disclaimer: The information provided in this article regarding Axis Capital’s upgrade of ABB India is for informational purposes only and should not be considered as financial advice. The analysis and opinions expressed are based on data available at the time of writing and may not reflect the most current market conditions. The author and the publication do not guarantee the accuracy, completeness, or reliability of the information presented.
