ABB India launches new range of circuit breakers with a seven-year warranty; stock ends positively
ABB India today has launched a range of miniature circuit breakers (MCBs), residual current circuit breakers (RCCBs), and isolators for the electrical retail market in India. These MCBs are available with a seven-year warranty. Circuit breakers with this long warranty are the first in the Indian electrical market.
Reacting to this, the stock of ABB India today jumped 1.49 per cent and made an intraday high of Rs 1,315.50 per share.
The company reported a net profit of Rs 80.74 crore in Q2FY21, an increase of 2.45 per cent. It had reported a profit of Rs 78.81 crore in Q2FY20. The company reported net sales of Rs 1,600.11 crore for Q2FY21, a decrease of 7.17 per cent as against the net sales of Rs 1,723.76 crore for Q2FY20.
The stock of ABB India has recovered by 81.87 per cent from its sharp decline in June 2020.
According to BSE data, the stock traded at a P/E multiple of 137.12 and a price-to-book ratio of 7.62. The stock has a 52-week high and a 52-week low of Rs 1,411.80 per share and Rs 722.45 per share, respectively.
At the time of market closing, the stock of ABB India Ltd was trading at Rs 1,302.75, up by 0.50 per cent on BSE.