ABB India shares jump 6%, hit 52-week high post Q1 earnings.

ABB India’s shares rose by 6% to a 52-week high following the publication of Q1 results, with the company reporting a post-tax profit of Rs 245 crore, up from Rs 149 crore last year, and revenue growth of 22% YoY to reach Rs 2,411 crore. ABB India’s cash position also rose to Rs 3,942 crore as orders surged to the highest level for Q1 in five years, at Rs 3,125 crore. Analysts predict that the stock’s steady uptrend that began in February 2021 will continue, with some consolidation and a potential target price of Rs 3950 over the next two to four months.