ABB India shares surge over 12% in weak market - Should you buy? Check target by Jefferies
ABB India Share Price Target: The surge comes after the company reported an 82 per cent year-on-year (YoY) rise in its net profit at Rs 467 crore in the March quarter on higher revenue.
![ABB India shares surge over 12% in weak market - Should you buy? Check target by Jefferies](https://cdn.zeebiz.com/sites/default/files/2024/05/13/293265-stocknews.jpg?im=FitAndFill=(1200,900))
ABB India Share Price Target: Shares of Electrification and automation major ABB India surged over 12 per cent on the BSE on Monday in an otherwise weak market. The counter opened the gap up at Rs 7555 with a gain of 5.19 per cent from the previous close of Rs 7182.15. Last seen, the counter held firmly in green and was trading at Rs 7899.50.
The surge comes after the company reported an 82 per cent year-on-year (YoY) rise in its net profit at Rs 467 crore in the March quarter on higher revenue.
The shares of ABB India, which has a market cap of Rs 1,67,420.33 crore, have a 52-week high of Rs 7,958 and a 52-week low of Rs 3,810.
ABB India share price target
Global brokerage firm Jefferies has maintained the 'buy' call on the stock but has raised the target to Rs 8,845 from Rs 6,250.
Here's what Jefferies has to stay on ABB India stock
- 1QCY24 EBITDA 52 per cent higher than expectations as margins expanded by 650 bps YoY to 18.3 per cent vs expectations of 12.2 per cent.
- Order flows rose 15 per cent YoY Co’s release indicates that there is no material one-off in margins
ABB India's share price history
Shares of ABB India have given a multibagger return of over 100 per cent in one year and 244.77 in two years. So far this year, the counter has given a positive return of Rs 68.65.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-sip-swp-monthly-pension-income-retirement-corpus-planning-calculator-inr-rs-20000-monthly-investment-for-15-years-inr-99000-monthly-return-for-42-years-313283](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316973-rupee-pixabay-take-1.jpg?itok=02-hJh59)
SIP+SWP: Rs 20,000 monthly SIP for 16 years to get Rs 99,000 monthly income for 42 years; how is it possible?
![https://www.zeebiz.com/market-news/news-bajaj-finserv-rvnl-borosil-renewables-carysil-railtel-corporation-stocks-to-buy-hdfc-securities-recommendation-picks-target-stop-loss-bse-nse-313386](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317091-26.jpg?itok=gE1cWt7z)
RVNL, Bajaj Finserv and 5 more: Brokerage recommends buying these 7 stocks for up to 3 months | Check target, stop loss
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-vs-ups-vs-ops-monthly-pension-income-retirement-corpus-calculator-what-will-be-your-pension-on-inr-rs-10000-contribution-for-35-years-expert-calculations-313361](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317060-rupee-pixabay-take-2.jpg?itok=cOVdof_v)
NPS vs UPS vs OPS: What will be your monthly pension if you contribute Rs 10,000 monthly for 35 years? Get expert calculations
![https://www.zeebiz.com/personal-finance/photo-gallery-top-7-etf-sip-mutual-funds-in-5-years-calculator-how-inr-rs-21000-monthly-investment-has-grown-in-nifty-sp-bse-next-50-cpse-uti-icici-pru-nippon-india-motilal-oswal-bharat-22-nift-mid-infra-313306](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316994-indian-currency-pixabay-take-1.jpg?itok=JURVEkst)
Top 7 ETF Mutual Funds With Highest SIP Returns in 5 Years: How Rs 21,000 monthly SIP has grown in each ETF over the years
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-senior-citizen-fd-fixed-deposit-latest-interest-rate-2024-calculator-what-be-maturity-amount-with-return-on-investments-of-inr-900000-lakh-in-1-3-5-year-guaranteed-return-scheme-retirement-planning-313221](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316909-note-coin-pixabay-take-1.jpg?itok=3RPKcBYE)
SBI Senior Citizen FD Rates 2024: What you can get if you invest Rs 3 lakh, Rs 5 lakh, Rs 7 lakh, and Rs 9 lakh in 1-, 3-, and 5-year FDs
12:41 PM IST