Rs 23.80/Share Dividend: Buy Large Cap Engineering Stock, TP Rs 7550; How To Be Eligible?

Renowned brokerage firms appear bullish on ABB India shares and assigned buy call with maximum target price of Rs 7550 per share. Last trading price of ABB India share on BSE is RS 6647.20 per share. ABB India shares gave traders attractive returns over the years. In last 1 year only, ABB India shares surged 106% and 386% in last 3-years. ABB India witnessed robust Q4 led by growth across segments.

ABB India's order inflows surged 35% YoY and backlog stayed strong at Rs 84 billion. ABB India on Feb 20, 2024 declared its 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 has been fixed as May 4, 2024. Check more details about ABB India below:

How To Be Eligible For Dividend: Record date plays a key role in fixing the eligibility of shareholders for the dividend. Traders whose name reflect in company's shareholders record as on the record date will become eligible to earn dividend announced by the company. Record date is the particular day on which a company confirms the list of shareholders eligible for its dividend distribution. In the case of ABB India, record date is May 4, 2024.

ABB India Share Performance: The 52-week high price of ABB India shares on BSE is Rs 6746.85 per share (as on 12/04/2024) and 52-week low price is Rs 3143.20 per share (as on (21/04/2023), respectively. The company has a market capitalisation of Rs 1,40,859.74 crore. ABB India shares gained nearly 38% in last 3-months-time, surged 55% in last 6-months, and gave return of 106% in last 1-year. In last 2-years, ABB India shares gained 386% and rallied 436% in last 5-years. ABB India witnessed share surege 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 6647.20/share, ABB India offers a dividend yield of 0.17%.

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 brokerage firm said "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."
Meanwhile, global brokerage firm Macquarie reinstated an outperform call on the ABB India share with a target price of Rs 6,550.

ABB India Technical: ABB India's score is 63.5 indicating stock is technically moderately strong as stocks with score above 70 are considered as technically strong. RSI is 67.2, RSI above 70 is considered overbought. This implies that stock may show pullback. MFI is 72.3, 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 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 UBS and Macquarie. 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.