Buy ABB Power Products and Systems India, target price Rs 2850: HDFC Securities

HDFC Securities has buy call on ABB Power Products and Systems India with a target price of Rs 2850. The current market price of ABB Power Products and Systems India Ltd. is Rs 2535.25. Time period given by analyst is one year when ABB Power Products and Systems India Ltd. price can reach defined target.

ABB Power Products and Systems India Ltd., incorporated in the year 2019, is a Small Cap company (having a market cap of Rs 10794.61 Crore) operating in Power sector.

ABB Power Products and Systems India Ltd. key Products/Revenue Segments include Income From Contracts, Sale of services, Other Operating Revenue, Scrap and Commission for the year ending 31-Dec-2020.



Financials
For the quarter ended 30-09-2021, the company reported a Standalone Total Income of Rs 850.60 Crore, up 6.75 % from last quarter Total Income of Rs 796.81 Crore and down -8.74 % from last year same quarter Total Income of Rs 932.02 Crore. Company reported net profit after tax of Rs 34.32 Crore in latest quarter.

Investment Rationale
With the intermediate technical setup too looking positive, the brokerage believes the stock has the potential to move higher in the coming weeks and therefore recommend a buy.


Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Sep-2021, while FIIs owned 4.71 per cent, DIIs 1.93 per cent.