Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  ABB India Limited    500002   INE117A01022

ABB INDIA LIMITED

(500002)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Swiss manufacturing PMI sinks to lowest level since 2009 on coronavirus fears

04/01/2020 | 04:14am EST
FILE PHOTO: Chocolate Easter bunnies wearing protective masks are seen at Baeckerei Bohnenblust bakery in Bern

From expensive watches to chocolates and cement, Swiss industry is being battered by the coronavirus epidemic, data showed on Wednesday, with the country's PMI survey sinking to its lowest level in more than a decade.

The Swiss Purchasing Managers' Index for March fell to 43.7 points, its lowest since July 2009, and is likely to drop further, the authors said. [S8N2B2006]

A measure of below 50 points indicates a shrinking manufacturing sector, which represents around 19% of the country's economic output.

A reading for the services sector was even bleaker, dropping to a record low 28.1 points.

"I still think the manufacturing PMI has some way further down to go while the service industry reading, although very worrying, will stabilise around that level," said Claude Maurer, an economist at Credit Suisse, which compiled the survey with dataprocure.ch.

"Many service companies such as most shops and restaurants are banned from selling and are also facing delivery or purchasing problems. They have been hit more at first, but they will be quicker to recover."

Companies welcomed the government's 42 billion Swiss franc (35.17 billion pounds) support package to provide emergency loans and expand its short-time working compensation scheme.

These measures should keep Swiss companies in a holding pattern until a recovery begins, Maurer said.

"If (the partial shutdown in Switzerland) comes to an end in the next couple of months there will not be a second-round effect on companies. If it goes longer, then it will become much more serious," he said.

To deal with the situation, Swatch Group, the world's largest watchmaker, has introduced shorter working hours at most of its factories, while Hublot, owned by Moet Hennessy Louis Vuitton LVMH, has shuttered a factory.

"We hope that the situation will allow us to reopen the factory at the beginning of May. But obviously we await the official directives... on the duration of the confinement,? said Hublot CEO Ricardo Guadalupe.

Swiss companies have also started issuing profit warnings, including chocolate maker Lindt & Spruengli, cement maker LafargeHolcim and engineering group ABB.

Smaller companies have also been hurt, despite their best efforts to adapt.

Bern bakery Bohnenblust has made chocolate Easter bunnies wearing protective face masks made from sugar and marzipan to cheer customers during the crisis.

"They've been an absolute hit," said manager Ruth Huber. "People have said they are very funny and they bring a bit of humour and smile to faces at this difficult time."

But the bakery has also had to put around a third of its 70 staff put on short-time working as deliveries stop to schools, restaurants and business canteens, reducing demand for bread.

"We have high fixed costs like rents, but less sales," said Huber. "It's very difficult."

By John Revill


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ABB INDIA LIMITED 0.17% 1379.3 End-of-day quote.13.79%
ABB LTD 0.68% 26.71 Delayed Quote.8.09%
AT HOME GROUP INC. 0.73% 24.93 Delayed Quote.61.25%
BEST INC. -6.58% 2.27 Delayed Quote.11.27%
DEERE & COMPANY -0.11% 305.17 Delayed Quote.13.55%
HOPE, INC. 8.42% 2948 End-of-day quote.-34.42%
LAFARGEHOLCIM LTD -1.41% 50.18 Delayed Quote.3.21%
LINDT & SPRUENGLI -0.23% 86600 Delayed Quote.-2.04%
LVMH MOËT HENNESSY - LOUIS VUITTON SE 0.77% 511.5 Real-time Quote.0.12%
SWISS RE LTD -1.60% 81.34 Delayed Quote.-2.40%
THE SWATCH GROUP SA -0.12% 257.2 Delayed Quote.6.50%
All news about ABB INDIA LIMITED
01/15ABB INDIA : Partners with Surat Municipal Corp. for Water Supply Project
MT
01/07ABB INDIA : Launches New Range of Circuit Breakers
MT
2020Indian Stocks Lock Gains on Thursday's Closing; ABB India Climbs 3%
MT
2020ABB INDIA : Commissions Project for ITC's Paper Division
MT
2020ABB INDIA : supports India's Koppal district to ease water shortages with digita..
AQ
2020ABB India to Provide Digital Water Management Solutions in Karnataka, India
MT
2020ABB INDIA LIMITED : 3rd quarter results
CO
2020ABB INDIA : Protection Of Confidential Information Without A Contract
AQ
2020ABB INDIA : Business continuity & cash focus
PU
2020ABB INDIA LIMITED : Half-year results
CO
More news
Financials
Sales 2020 60 694 M 832 M 832 M
Net income 2020 2 538 M 34,8 M 34,8 M
Net cash 2020 20 855 M 286 M 286 M
P/E ratio 2020 115x
Yield 2020 0,30%
Capitalization 292 B 4 005 M 4 005 M
EV / Sales 2020 4,47x
EV / Sales 2021 3,62x
Nbr of Employees 3 299
Free-Float 24,7%
Chart ABB INDIA LIMITED
Duration : Period :
ABB India Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ABB INDIA LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 1 379,30 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers and Directors
NameTitle
Sanjeev Sharma Managing Director & Director
Jean-Christophe Deslarzes Chairman
Sridhar Krishnaswamy Tyagavalli Chief Financial & Investment Relations Officer
Akilur Rahman Chief Technology Officer
Darius Erach Udwadia Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
ABB INDIA LIMITED13.79%4 005
ABB LTD8.09%62 102
SHANGHAI ELECTRIC GROUP COMPANY LIMITED18.07%11 360
BLOOM ENERGY CORPORATION40.20%6 678
GATES INDUSTRIAL CORPORATION PLC16.07%4 307
NORDEX SE17.06%3 705