Explained – Why shares of ABB India and Siemens surged up to 10% on Thursday

Shares of ABB India Ltd. gained as much as 10% on Thursday, July 16, after its global parent ABB Global reported its results for the second quarter.As part of its results announcement, ABB Global disclosed that the order inflow for the India region grew by 81% on a year-on-year basis.

The figure is the highest in the last many years. During the previous quarter, when ABB Global for India region had grown 26% for order flows, ABB India’s own order flows had grown 25%. During the fourth quarter of last year, the figures stood at 49% and 51% respectively.ABB Global’s India order inflows include both listed as well as non-listed entities.

This is the biggest single-day gain for ABB India since May 2024. Following suit, shares of Siemens Ltd. also gained as much as 7% before cooling off.

Close to 11 lakh shares of ABB India have changed hands already compared to its 20-day average of 80,000 shares at this time of the day.

After the initial surge, shares of ABB India are now trading with gains of 7.6%, having advanced 5% on Wednesday as well at ₹7,753. The stock has now risen 50% in the year so far. The stock made an intraday high of ₹7,924 on Thursday after the announcement, which also happens to be a 52-week high.