1:5 Split, Rs 23.80/Share Dividend: Buy Multibagger Engineering Stock Ahead Of Ex-Date, TP Rs 7550

Two leading brokerage houses recommended buy call to ABB India shares with maximum target price of Rs 7550 per share. Last trading price of ABB India share on BSE is RS 6697.05 per share. ABB India shares offered shareholders multibagger returns of 198% in last 2-years span and offered gain of 97% in last 1-year. ABB India registered strong Q4 led by growth across segments. ABB India's order inflows zoomed 35% YoY and backlog stayed strong at Rs 84 billion.

Earlier on Feb 20, 2024 ABB India recommended final dividend of Rs 23.80 per share of the face value of Rs 2/- each for financial year ended December 31, 2023. The record date for final dividend is May 4, 2024. Check more details about ABB India below:

ABB India Share Performance: The 52-week high price of ABB India shares on BSE is Rs 6746.85 per share and 52-week low price is Rs 3143.20 per share, respectively. The company has a market capitalisation of Rs 1,41,823.92 crore. ABB India shares surged by massive 40% in last 3-months-time, gave return of 62% in last 6-months, and offered return of 97% in last 1-year. In last 3-years, ABB India stock rallied 380% and rose 445% in last 5-years. The stock recorded a stunning rally of 825% in last 10-years.

ABB India Stock Split History: ABB India split face value of its shares once since June 28, 2007. ABB India last split face value of its shares from Rs 10 to Rs 2 in 2007. ABB India traded ex-split from June 28, 2007.

ABB India Dividend History: ABB India announced 25 dividends since May 17, 2001. In last 1-year, ABB India announced an equity dividend of Rs 11.00 per share. At the current share price of Rs 6697.05, ABB India offers a dividend yield of 0.16%.

Brokerages Recommend Buy: Brokerage firm UBS has assigned buy rating to ABB India share and revised target price to Rs 7,550 per share. The analysts has listed factors such as "best quality electrification and mobility growth, electrification and motion to drive growth and margins, more upside to consensus on margins despite recent upgrades, and earnings acceleration sustainable, plenty of growth levers at play."

Jefferies has also recommended buy call for ABB India shares and upgraded the target price to Rs 6,250 from Rs 6,115. The analyst upgraded the target price of ABB India after robust financial performance.

ABB India Technical: ABB India's score is 71.21. ABB India share is technically strong as stocks with score above 70 are considered as technically strong. RSI is 79.2, RSI above 70 is considered overbought. This implies that stock may show pullback. MFI is 86.2, MFI above 80 is considered strongly overbought. This implies that stock may show pullback. Number of FII/FPI investors surged from 799 to 805 in December 2023 quarter, according to Trendlyne.

ABB India Dividend: As per the BSE filing of the company dated February 20, 2024, "recommendation of final dividend of Rs.23.80 per share (Rupees Twenty Three and Eighty paisa only), i.e., (1190%) on 21,19,08,375 Equity Shares of face value of Rs.2/- each fully paid up for the financial year ended December 31, 2023."

ABB India Q4 Results: ABB India follows January to December as its financial year. The company announced its total revenue surged to Rs 2,757 crore for Q4 ended December 31, 2023 as against Rs 2427 crore in the similar quarter an year ago. ABB declared its total orders surged by 35% to Rs 3,147 crore in Q4. Meanwhile, In 2023 it bagged orders worth Rs 12,319 crore, up 23% over 2022. For the entire fiscal, ABB's PAT stood at Rs 1,248 crore, up over Rs 1,026 crore from last financial year and revenues rallied to Rs 10,447 crore, from Rs 8,568 crore a year ago.

About: ABB is a technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. The company's solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated, according to its official website.

Disclaimer: The stock has been picked from the brokerage report of Jefferies and UBS. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.