ABB

BENGALURU, May 9 (Reuters) - Diary of India economic, corporate events on May 9

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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** ABB India ABB.NS jumps 4.5%, recovering from 1.6% losses earlier in the session; set for fourth consecutive session of gains

** Global parent ABB ABBN.S posts better-than-expected March-quarter profit

** Switzerland-based ABBN says India orders rose 1% y/y in January-March vs 21% y/y drop in the previous quarter

** Over 530,000 shares of ABB India traded, above six-month avg daily volume

** YTD, ABB down 18.7%

(Reporting by Vivek Kumar M)

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** ABB India ABB.NS rises 2.6% to 5,381 rupees

** Stock set for third straight session of gains since releasing annual report on April 9, gaining 7% during the period; April 10 and April 14 were market holidays

** Motilal Oswal says engineering products maker's FY25 annual report highlights focus on high-growth segments and deeper penetration in tier-II cities

** Expect inflows and project ramp-ups after a few quarters

** Re-iterates "buy", with PT of 6,700 rupees

** Stock rated "buy" on avg; median PT is 6,224 rupees, per data compiled by LSEG

** YTD, ABB loses 22%

(Reporting by Kashish Tandon in Bengaluru)

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April 2 (Reuters) - ABB India Ltd ABB.NS:

• DELIVERS AUTOMATION AND DIGITAL TECHNOLOGY FOR INDIANOIL PIPELINE

• PROVIDES 10-YEAR CARE CONTRACT FOR INDIANOIL PIPELINE SUPPORT

Source text: ID:nBSE321bqw

Further company coverage: ABB.NS

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** Shares of engineering services company ABB India Ltd ABB.NS down 2.8% at 8,218 rupees

** ABB shares down for third straight session where they have shed 4.4%; day's fall biggest across last three sessions

** UBS downgrades stock to "neutral" from "buy" saying current price already factors robust earnings growth; raises PT to 9,100 rupees from 8,830 rupees

** Brokerage views ABB as best poised to capture emerging infrastructure projects, says would upgrade back to "buy" if quarterly order inflow exceeds 38 billion rupees

** 23 analysts tracking stock rate it "hold" on avg vs "buy" for Siemens SIEM.NS and Larsen and Toubro LART.NS - LSEG data

** Stock up ~76% YTD vs LART's 3.5% rise, SIEM's 89% gain

(Reporting by Nandan Mandayam in Bengaluru)

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July 3 (Reuters) - ABB India Ltd ABB.NS:

• ABB'S PIXELPAINT SELECTED BY MAHINDRA TO DELIVER PREMIUM PAINT OPTIONS

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June 19 (Reuters) - ABB India Ltd ABB.NS:

• ABB INDIA AND WITT INDIA PARTNER

• PARTNERSHIP TO ENHANCE SAFETY, OPERATIONAL EFFICIENCY IN KEY INFRASTRUCTURE PROJECTS

Further company coverage: ABB.NS

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** Shares of ABB India ABB.NS rise as much as 8.5% to 7,791.50 rupees, hitting a record high; last up 7.4%

** The engineering services firm reports an ~88% jump in March-qtr profit to 4.59 billion Indian rupees (nearly $55 million), beating analyst estimates

** "Strong beat on all fronts" while quarterly EBITDA margin of 18.3% a positive surprise aided by executing higher margin orders and healthy pricing power- Nomura

** ABB on track for second straight session of gains

** Busiest session since late Feb; about 1.3 mln shares change hands, three times the 30-day avg

** Twenty four analysts covering the stock on average have a "hold" rating; median PT is 5,330.50 rupees - LSEG data

** Stock up ~65% YTD, had gained 74% in 2023 for third straight year of gains

($1 = 83.5125 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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BENGALURU, May 10 (Reuters) - Engineering services firm ABB India ABB.NS on Friday reported an about 88% jump in its first-quarter profit, surpassing analysts' expectations, backed by higher demand at its biggest segment.

Profit at the domestic arm of Switzerland's ABB ABBN.S rose to 4.59 billion Indian rupees ($54.97 million) in the three months ended March 31, from 2.45 billion rupees a year earlier.

Analysts on an average expected profit of 3.29 billion rupees, according to LSEG data.

Indian capital goods companies are expected to see healthy revenue growth in the March quarter, led by industrial demand and strong order book, according to analysts.

ABB India said its total orders surged to 36.07 billion rupees — the highest for the first quarter in the last five years.

"The increased demand for technologically superior solutions, coupled with the government's capital expenditure focus on new-age themes such as energy efficiency, decarbonization and digitalization has significantly driven our order momentum," ABB India said.

Revenue from the company's electrification segment, its largest with a contribution of 41.2% to overall revenue, rose nearly 30%. Its second-biggest segment, motion, grew 4.2%.

ABB India's total revenue from operations rose about 28% to 30.80 billion rupees, while analysts expected 28.62 billion rupees.

Shares of ABB India closed 2.8% higher ahead of the results. The stock has climbed 36.1% in the January-March quarter.

Shares of parent ABB scaled a record high last month, after the company posted better-than-expected quarterly profit and signalled faster growth in the coming months.

Rival Thermax THMX.NS also reported higher fourth-quarter profit on Friday, while Siemens SIEM.NS is expected to post its results on Tuesday.

($1 = 83.5006 Indian rupees)

(Reporting by Rama Venkat and Yagnoseni Das in Bengaluru; Editing by Shilpi Majumdar)

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** ABB India's shares ABB.NS slide over 4%, most on Nifty 100 .NIFTY100, after two rating cuts

** Stock set for biggest one-day drop in four months

** ICICI Securities downgrades to 'sell', while Nomura cuts to 'neutral' from 'buy' -LSEG data

** ICICI says while order inflows were strong, share of long-lead orders has jumped to 15% in 2023 from 7% in 2022

** Expects orders to be "sub–par" in 2024 given the uncertainty over next 1-2 qtr due to general elections

** Notes stock's sharp 45% surge in two months means it's trading at ~81x CY25E EPS vs avg historical 2-yr fwd PE of 60x

** ICICI's PT is 5,330 rupees, while Nomura hikes PT to 6,660 rupees; stock last trading at ~6,365 rupees

** Avg rating of 24 analysts is 'hold' and median PT is 5,275 rupees -LSEG data

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of technology automation products and services provider ABB India ABB.NS rise ~7% to a record high; last up 6.3%

** UBS says co has clear focus to capture long-term growth in electrification, dials up estimates on product portfolio expansion bets

** UBS hikes PT by 40% to Street-high of 7,550 rupees, retains 'buy' recommendation

** UBS' new PT is 51% above analysts' median PT, and ~20% higher than current trading levels - LSEG data

** Adds ABB "best play" on emerging infrastructure scale-up in low/medium-voltage electrification, where it trails Schneider Electric Infrastructure SEIN.NS and Siemens SIEM.NS

** Avg recommendation on ABB is a "hold" vs "buy" for Siemens - LSEG

** Stock is up ~35% YTD, following a 74% jump in 2023

(Reporting by Hritam Mukherjee in Bengaluru)

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March 20 (Reuters) - ABB India Ltd ABB.NS:

• ORDER FROM DEPARTMENT OF COMMERCIAL TAXES IMPOSING PENALTY OF 61.4 MILLION RUPEES

• APPEAL WILL BE FILED AGAINST ORDER

Source text for Eikon: ID:nBSE9q9q0S

Further company coverage: ABB.NS

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** Shares of ABB India ABB.NS rise as much as 7.8% to a record high of 5,373.8 rupees

** The heavy electrical equipment maker reported an 11% jump in Dec-qtr profit on Tuesday

** Stock has rallied over 18% since then

** ABB's new product launches to improve efficiency and its order outlook remains upbeat, say analysts at Nomura

** Nomura upgrades stock to "buy" from "neutral"; hikes PT to 5,740 rupees from 4,525 rupees

** Sees ABB as a key beneficiary of shift to automation, electrification and premiumisation

** More than 1.9 mln shares change hands, 5.1x its 30-day avg

** Twenty-one analysts covering the stock on avg have a "hold" rating; median PT is 4,950 rupees - LSEG data

** Stock up ~18% this week, eyes highest weekly gain since Dec. 5, 2014

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of technology co ABB India Ltd ABB.NS rise as much as 6.9% to 4,838 rupees

** Co late on Tuesday reported 10.9% rise in qtrly profit to 3.39 bln rupees ($40.9 mln), total rev from ops rose 13.6% Y/Y

** Co said growth has come on the back of deepening engagement into diverse market segments, portfolio expansion and localization for Indian market

** Stock trading above its 200-day simple moving avg since Feb. 6, 2023

** More than 815,000 shares traded as of 9:44 a.m. IST, 3.5 times their 30-day moving avg

** Mean rating of 21 analysts covering the stock is "hold"; median PT is 4,585 rupees - 5.5% lower than the day's high - LSEG data

** Stock up ~3% for the year so far

($1 = 82.8973 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

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Feb 20 (Reuters) - ABB India Ltd ABB.NS:

• ABB INDIA DEC-QUARTER PROFIT 3.39 BILLION RUPEES

• ABB INDIA DEC-QUARTER TOTAL REVENUE FROM OPERATIONS 27.57 BILLION RUPEES

• ABB INDIA YEAR AGO DEC-QUARTER PROFIT 3.05 BILLION RUPEES; REVENUE 24.27 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: ABB.NS

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BENGALURU, Feb 8 (Reuters) - Indian engineering company Thermax THMX.NS reported an 11% year-on-year rise in third-quarter profit on Thursday, helped by strong demand for its industrial products.

Consolidated profit before tax and exceptional items rose to 1.83 billion rupees ($22.1 million) in the three months ended Dec. 31, from 1.65 billion rupees a year ago.

Engineering companies in India have been benefitting from the government's push on infrastructure, clean energy and indigenisation through increased capex and production-linked incentive schemes.

The order flow at capital goods majors such as Larsen & Toubro LART.NS, Siemens SIEM.NS and Thermax have risen by an average of 28% YoY for the last six quarters, brokerage Jefferies estimated last month.

Among peers, KEC International KECL.NS reported its profit surged more than five-fold in the quarter, while Cummins India CUMM.NS said its profit increased 20.6%.

Thermax's sales of industrial products -- such as for heating, cooling, water and waste management -- increased 19.5% in the quarter.

Revenue from its industrial infrastructure business, which includes building large boilers, turnkey power plants, and wastewater treatment plants increased by 9.7%.

These two businesses accounted for more than 90% of the company's total revenue, which rose 13.4% to 23.24 billion rupees.

Thermax, which serves industries ranging from aviation, and cement to renewable energy, said its order booking for the quarter was 17% higher year-on-year at 11.54 billion rupees.

It also approved an additional capital expenditure of 450 million rupees to set up an ion exchange resin manufacturing plant.

Thermax's shares jumped 6.8% to a record high after the results, before reversing course to trade down 2.4%. The stock had risen 56.6% in 2023.

($1 = 82.9832 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru; Editing by Savio D'Souza)

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Jan 18 (Reuters) - ABB India Ltd ABB.NS:

• ABB ROBOTICS AND SIMPLIFORGE CREATIONS COLLABORATE FOR 3D PRINTING TECHNOLOGIES IN INDIA'S CONSTRUCTION SECTOR

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** Shares of Titagarh Rail Systems TITG.NS rise as much as 9.5% to a record high of 1,025 rupees and ABB India ABB.NS up 1.7%

** ABB, which makes factory robots, automation systems, said on Monday it formed a partnership for metro projects in India with railway wagon maker TITG

** Both cos will supply propulsion systems for metro projects in India

** TITG shares up 353% so far this year including Tuesday's gains, while ABB stock up 64% YTD

(Reporting by Nallur Sethuraman in Bengaluru)

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Nov 20 (Reuters) - ABB India Ltd ABB.NS:

• ABB FORMS STRATEGIC PARTNERSHIP WITH TITAGARH FOR METRO PROJECTS IN INDIA

Source text for Eikon: [ID:]

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Nov 9 (Reuters) - ABB India ABB.NS posted an 84% rise in quarterly profit on Thursday, as the technology company was helped by higher order wins in its key electrification and automation segments.

The Indian arm of Swedish-Swiss ABB Ltd ABBN.S said its profit jumped to 3.63 billion rupees ($43.60 million) in the quarter ended Sept. 30 from 1.98 billion rupees a year earlier.

The company recorded 14% year-on-year growth in total orders to 30.04 billion rupees in the quarter.

"The quarter witnessed orders from a diverse range of segments including metals, energy companies, railways, electronics, data centers, EVs, paints, etc.," ABB India said.

Healthy industrial demand, strong order book and better execution amid improved supply chain will drive growth in the September quarter for Indian capital goods companies, analysts had said.

Peer Thermax THMX.NS earlier this month posted a 45% jump in quarterly profit on the back of robust demand, while Siemens SIEM.NS is yet to report its results.

ABB India's revenue from the electrification segment, which contributes nearly 40% to the company's total revenue, rose 18%, while that from the process automation segment jumped 93%.

Its total revenue from operations rose 31% to 27.69 billion rupees.

ABB India's shares closed 0.9% higher after results. The stock fell 7.2% in the July-September quarter.

Parent ABB last month posted a 13% jump in its third-quarter core profit, helped by price increases but flagged a slowdown in revenue growth in the fourth quarter.

($1 = 83.2620 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Maju Samuel)

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** Shares of ABB India ABB.NS fall 1.4% to 4,225.1 rupees

** Co's parent, Swiss engineering group ABB ABBN.S said it anticipates low- to mid-single digit comparable revenue growth in fourth quarter

** Adds, FY23 comparable rev growth will likely be in low teens

** Analysts covering ABB India on average have a "hold" rating; median PT is 4,300 rupees - LSEG data

** Stock up 59% YTD

(Reporting by Ashna Teresa Britto in Bengaluru)

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Sept 21 (Reuters) - ABB India Ltd ABB.NS:

• ABB TO POWER SAMSKIP'S NEW HYDROGEN-FUELED CONTAINER VESSELS

Source text for Eikon: ID:nBSE6Wdgnf

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Sept 20 (Reuters) - ABB India Ltd ABB.NS:

• ABB TO ROLL OUT ELECTRIC POWERTRAIN SYSTEM FOR ARCELORMITTAL NIPPON STEEL'S NEW STEEL MILL IN HAZIRA

• NEW PLANT WILL PRODUCE AROUND 5.5 MILLION TONS OF STEEL STRIP PER YEAR

• PARTNERING WITH SMS GROUP TO SUPPLY ALL MEDIUM-VOLTAGE MOTORS AND MV DRIVES FOR NEW HOT STRIP MILL AT HAZIRA, IN GUJARAT

Source text for Eikon: ID:nBSE3pMMQ1

Further company coverage: ABB.NS

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** Shares of ABB India ABB.NS up as much as 2.23% at 4,540 rupees, logging highest level since Aug. 11

** Jefferies says strong order outlook should ensure co's execution remains in double digits

** Energy efficiency requirements put ABB in a sweet spot given electrification, motion and automation portfolio - Jefferies

** Brokerage sees 23% implied upside for the stock, rates it "buy" with TP of 5,260 rupees

** Mean recommendation of 28 analysts is "hold," median TP 4,261 rupees - LSEG data

** Stock surged ~68% YTD

(Reporting by Hritam Mukherjee in Bengaluru)

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Aug 21 (Reuters) - ABB India Ltd ABB.NS:

• CO BAGS ORDER FOR AUTOMATING RELIANCE LIFE SCIENCES' BIOPHARMACEUTICAL FACILITIES

Source text for Eikon: ID:nBSE3rdV26

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Aug 11 (Reuters) - ABB India Ltd ABB.NS:

• JUNE-QUARTER PROFIT 2.96 BILLION RUPEES VERSUS 1.40 BILLION RUPEES

• JUNE-QUARTER TOTAL REVENUE FROM OPERATIONS 25.09 BILLION RUPEES VERSUS 20.53 BILLION RUPEES

Source text for Eikon: [ID:]

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Aug 4 (Reuters) - ABB India Ltd ABB.NS:

• ABB INDIA LTD - MAY CONSIDER DECLARATION OF SPECIAL DIVIDEND

Source text for Eikon: ID:nBSE9B8MXK

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** Shares of ABB India ABB.NS rise as much as 2.70% to 4317.65 rupees

** Rise after global brokerage Macquarie reiterates "outperform" on the back of strong results from the technology company's parent - ABB Group

** ABB India to report order inflow growth of 7% Y/Y in June quarter to 29.6 bln rupees, exceeding the estimate of 27.5 bln rupees - Macquarie

** Expects ABB to benefit from large electrification and automation contract for ArcelorMittal Nippon Steel India

** Trading volume is 341,486 shares as of 1:25 p.m. IST as of 1:25 p.m. IST, 1.3x the 30-day avg - Refinitiv data

** Of the 27 analysts tracking ABB, six suggest "strong buy", seven retain "buy", nine maintain "hold", four recommend "sell" and one suggests "strong sell"; median TP is 3,700 rupees

** ABB up 59% in 2023 so far compared to 9% rise in Nifty 50 .NSEI index

(Reporting by Bharath Rajeswaran in Bengaluru)

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June 30 (Reuters) - ABB India Ltd ABB.NS:

• GETS ELECTRIFICATION AND AUTOMATION CONTRACT FOR ARCELORMITTAL NIPPON STEEL

Source text for Eikon: ID:nBSE3K4mkt

Further company coverage: ABB.NS

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** UBS upgrades ABB India to "buy" from "neutral" and raises price target to a Street-high 5,000 rupees

** ABB India shares ABB.NS off 0.2% at 4,141.70 rupees, just shy of all-time high of 4,162.85 rupees hit on May 31

** UBS says short-cycle demand for ABB's industrial products stronger than expected and sees further operating margin growth

** UBS remain bullish on industrial automation and low-voltage electrification demand

** The avg rating of the 28 analysts covering ABB is "hold", while their median PT is 3,688 rupees - Refinitiv data

** ABB has surged in May after strong Q4 results at start of the month; stock up 54% YTD, incl a 21% jump in May

(Reporting by Ashna Teresa Britto in Bengaluru)

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