Buy Large Cap Dividend Paying Engineering Stock As Shares Likely To Rally: ICICI Direct

ICICI Direct has recommended investors to buy Engineering sector stock, ABB India Ltd with a target price of Rs 3735 apiece. Last trading price of the stock is Rs 3169.45 with intraday fall of 0.27%.

If you buy ABB India Ltd at last trading price, you can get likely return of 18%. If you buy the stock now, you can also earn a dividend income of Rs 5.50 per share. The stock gave a return of over 50% in last 1-year. Check details below:

1. ABB India Ltd Stock Performance

Last trading price of ABB India is Rs 3169.45 apiece. The stock's 52-week high is Rs 3445.65 apiece and 52-week low is Rs 1944.60 apiece, respectively. The company has a market capitalisation of Rs 67,163.30 crore.

2. ABB India Return & Financial Outlook

The stock gave a return of 8% in last 1-month, 10% in last 6-months, 50% in last 1-year, and 157% in last 3-years.

The company recently declared its Q4 results and the results beat estimates. The global technology company declared 62.3% YoY surge in net profit at Rs 305.3 crore for Q4 that ended December 31, 2022.

The company declared a net profit of Rs 188 crore in the corresponding quarter last year. Meanwhile, revenue from operations announced at Rs 2427 crore during Q4, up 15.5% as against 2101.5 crore declared in the corresponding quarter of previous year.

Also, board of directors of ABB India also recommended a dividend of Rs 5.50 per share or 275% subject to the approval of shareholders at the forthcoming Annual General Meeting, as per the BSE filing.

3. ABB India About

ABB India Limited takes up engineering and construction projects and engaged in the manufacturing of heavy engineering and industrial equipment. ABB India takes up projects in the field of energy production, power transmission, transportation, process automation and pollution control, among others.

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. 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.