Multibagger Update: Electric equipment company soars to fresh high with highest order growth ever!

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 7th September 2023 - 05:09 pm

Listen icon

The India benchmark indices were trading in green on Thursday morning with Sensex and Nifty advancing by 0.28% and 0.31%, respectively. 

The broader markets continue to outperform the frontline benchmark indices with Nifty Midcap and Smallcap gaining 0.50% and 0.60%, respectively. 

Company profile 

Amidst the buoyancy on D-Street, several stocks are trending higher on Thursday, but all eyes are on this standout stock that’s caught the attention of market experts and traders alike is ABB India Limited. 

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.

Stock price movement 

The stock jumped over 5% on Thursday on the back of a huge surge in the volumes. Volumes for the day so far have seen a twofold rise when compared to its 10 and 30-day average volume. Also, with this surge, the stock has marked a fresh all-time high.

It’s the question on everyone’s mind: What’s the story behind this stock’s meteoric rise? 

The company has begun the year on solid footing, continuing the growth momentum set last year across orders, revenue, and profit. In the first quarter of Calendar Year (CY) 2023, the company reported the highest-ever order growth in Q1 in the last 5 years and 5 quarters, up by 36% YoY. 

The company’s total orders have surged to an impressive Rs 3,125 crore - the highest for the first quarter in the last five years! But that's not all, the growth in electrification has been phenomenal, with major segments and channels across diverse sectors, including metals, data centres, and IT majors. And that's just the tip of the iceberg! In Motion, our traction orders have made significant contributions from channel partner business, railways, metals, cement, F&B, and oil and gas, with a strong presence in tier 2 and 3 cities. 

Transportation has also been a key contributor, with railways and the metro leading the way. Process Automation has received orders from city gas distribution, terminal automation, life sciences, metals, and energy exports - a testament to their versatility and adaptability. And finally, in Robotics and Discrete Automation, automotive orders have shown impressive traction, with a solid inflow in paint orders. 

Interestingly, the company has mentioned that on their sustainability targets with the reduction in CO2 emissions through RE100, 97% of the waste and almost half the water used was recycled. 

In the long run, the stock has provided multibagger returns of nearly 312% in the last three years! 

How do you rate this article?

Characters remaining (1500)

Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

FREE Trading & Demat Account
Resend OTP
Please Enter OTP
By proceeding, you agree T&C*
Mobile No. belongs to

Indian Stock Market Related Articles

List Of Maharatna Companies In India

by Tanushree Jaiswal 9th Jul 2024

Why Quant Mutual Funds Are Outperforming?

by Tanushree Jaiswal 5th Jul 2024

NSE's 90% Cap on SME IPO Listing Prices

by Tanushree Jaiswal 5th Jul 2024

Want to Use 5paisa
Trading App?