Mon Dec 02 06:24:03 UTC 2024: **ABB Stock Soars 5%, Boosting Capital Goods Sector**

**Mumbai, India** – ABB shares experienced a significant surge today, climbing 5% to reach ₹7,214.1. This jump contributed to a broader upswing in the BSE CAPITAL GOODS index, which rose 3.5% to 69,778.3. Siemens and Bharat Electronics led the gains within the index, increasing by 6.4% and 4.5% respectively.

The robust performance builds on a strong year for ABB, with its share price increasing by 66.1% (₹2,871.9) over the past 12 months. Similarly, the BSE CAPITAL GOODS index has seen substantial growth of 43.6% during the same period. Bharat Electronics, Siemens, and Hindustan Aero were among the top performers in the index over the past year, with gains exceeding 99%.

The overall market also showed positive momentum. The BSE Sensex gained 1.1%, reaching 79,969.4, with L&T and SBI among the top gainers. The NSE Nifty also rose by 1.2%, closing at 24,201.3.

ABB’s strong stock performance aligns with its positive financial results. The company reported a 21.7% year-on-year increase in net profit for the quarter ending September 2024, reaching ₹4,405 million. Net sales also grew by 5.2% to ₹29,122 million. For the fiscal year ending December 2023, ABB’s net profit increased by 21.7% to ₹12,482 million, and revenue grew 21.9% to ₹104,465 million.

Despite the positive market sentiment, investors should remember that investment in securities carries inherent market risks. This information should be considered for informational purposes only and not as investment advice.

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