ABB plunged 6.70% to Rs 842.75 at 14:40 IST on BSE despite reporting a 21.42% rise in net profit to Rs 131.81 crore in Q2 June 2008 over Q2 June 2007.
The company announced the results during trading hours today, 25 July 2008.
The stock hit a high of Rs 915 and a low of Rs 832.25 so far during the day. The stock had a 52-week high of Rs 1670 on 19 November 2007 and a 52-week low of Rs 711 on 2 July 2008.
From a recent low of Rs 812.05 on 15 July 2008, the stock rose 11.23% to Rs 903.25 on 24 July 2008. The stock had gained 3.61% to Rs 918.65 on 23 July 2008 as market surged on that day after government on 22 July 2008 won the vote of trust in parliament against left parties.
The company has an equity capital of Rs 42.38 crore. Face value per share is Rs 2.
The current price of Rs 842.75 discounts its Q4 March 2008 annualised EPS of Rs 22.22, by a PE multiple of 37.93.
ABB’s total income rose 15.68% to Rs 1637.62 crore in Q2 June 2008 over Q2 June 2007.
ABB's order intake rose 11% to Rs 2208.60 crore in Q2 June 2008 over Q2 June 2007. The company's order book at end of Q2 June 2008 stood at Rs 6776.90 crore, compared to Rs 5026 crore at the beginning of the calendar year 2008.
On 1 July 2008, ABB bagged an order worth Rs 312 crore to provide power solutions for a new terminal T3 at Indira Gandhi International Airport at Delhi.
In June 2008, ABB bagged an order worth Rs 295 crore to provide power solutions to JSW Energy for its upcoming 1200-megawatt thermal power plant in Ratnagiri, Maharashtra.
ABB provides power and automation technologies to utility and industry customers worldwide.
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