ABB trips

ABB trips

ABB plunged 6.46% to Rs 1,185.20 at 13:57 IST on BSE, as the company's robust Q4 results which it had unveiled recently failed to avert sell-off in the stock.

Meanwhile, BSE Sensex was down 32.22 points or 0.19% to 17,586.05.

On BSE, 81,022 shares were traded in the counter. The scrip had an average daily volume of 54,035 shares in the past one quarter.

The stock hit a high of Rs 1,300 and low of Rs 1,157 so far during the day. The stock had a 52-week high of Rs 1,670 on 19 November 2007 and a 52-week low of Rs 638 on 8 March 2007.

ABB’s share price declined 6.23% from the recent high of Rs 1,354.45 on 15 February 2008 to Rs 1,270 on 20 February 2008.

The large-cap scrip had underperformed the market over the past one month till 20 February 2008, rising 4.51% compared to the Sensex’s return of 5.31%. It also underperformed the market in the past one quarter, declining 15.29% compared to Sensex’s decline of 4.91%.

The company’s current equity is Rs 42.38 crore. Face value per share is Rs 2.

The current price of Rs 1,185.20 discounts its Q4 December 2007 annualized EPS of Rs 34.13, by a PE multiple of 34.72.

ABB’s net profit rose 34% to Rs 180.79 crore on 29% rise in sales to Rs 1,839.44 crore in Q4 December 2007 over Q4 December 2006. The company announced the results on 19 December 2008.

ABB provides power and automation technologies to utility and industry customers worldwide.