Electrification and automation major ABB India Ltd on Friday (May 10) reported an 87.6% year-on-year (YoY) jump in net profit at ₹459.3 crore for the first quarter that ended March 31, 2024, on strong growth momentum in orders with a healthy mix of short and long-term opportunities. The company follows the January to December financial year.
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The company's shares have an ROE of 51 per cent and an ROCE of 34 per cent. CFF Fluid Control Ltd has secured a Repair Rate Agreement with the Naval Dockyard, Mumbai for structural renewal work on Indian Navy (IN) ships. This domestic contract, valued at approximately Rs. 5.58 crore (including tax) will see CFF perform repairs and renewals essential for maintaining the operational readiness.
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A lower yen is traditionally seen as positive for Japanese stocks as it should make its exports more competitive. And this is certainly still true to some extent. More than half of the companies in the Topix index are exporters, according to Bank of America. The broker estimated that every additional yen to the dollar in the exchange rate might boost operating profit for companies.
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