Rs 33.50 Dividend Approaches: Selling Pressure Weighs On This BSE 200 Stock; Caution Ahead of May 3?

ABB is a world leader in automation and electrification technologies. The company has been in business for more than 140 years and employs over 110,000 individuals globally. The shares of ABB are traded on Nasdaq Stockholm (ABB) and SIX Swiss Exchange (ABBN). One of the international ABB Group's subsidiaries is ABB India Limited. Since the company has set May 3rd as the record date for the final dividend of Rs. 33.50 per share for the fiscal year ending December 31, 2024, ABB India's shares closed Wednesday's trading session on the BSE 1.38% down at Rs 5313.15 per share, with a market capitalization of Rs 1,12,590.10 Cr.

ABB India Dividend

At its meeting on February 17, 2025, the company's Board of Directors recommended a final dividend of Rs. 33.50 per share, or 1,675% on 21,19,08,375 equity shares with a face value of Rs. 2 that were fully paid up for the fiscal year that ended on December 31, 2024. This recommendation is conditioned upon the approval of shareholders at the subsequent Annual General Meeting and the 75th Annual General Meeting of the company will be held on Saturday, May 10, 2025.

Those shareholders whose names are listed as members in the company's Register of Members as holders of equity shares as of the end of business hours on May 3, 2025, which is set as the record date, will receive the dividend, if it is declared at the 75th Annual General Meeting, after May 10, 2025. The names which appear as beneficial owners as of the end of business hours on May 3, 2025, would receive the dividend for shares maintained in electronic form, according to information provided by Central Depository Services (India) Ltd. and National Securities Depository Ltd.

ABB India News

ABB India Ltd. declared on Wednesday, April 2, that it has successfully completed the delivery of an integrated scope of sophisticated automation and digital solutions for the nation-wide oil and gas pipeline network of Indian Oil Corporation Ltd. (IndianOil). Transporting 125 million metric tons of oil and 49 million metric standard cubic meters of gas yearly, the network, which stretches over 20,000 kilometers across many Indian states, is essential to meeting the nation's energy demands.

"The project involved the design, engineering, supply and commissioning of the ABB Ability^TM SCADAvantage digital platform, which features robust cyber security and disaster recovery systems hosted on the cloud. The scope also included digital solutions for centralized management of IndianOil's pipelines across the country. Additionally, ABB is providing a 10-year ABB Care contract to ensure all existing pipelines are unified under CPIMS and to provide long-term service support for IndianOil's pipeline infrastructure," ABB India said in a regulatory filing.

"CPIMS has been envisioned to address the complexities associated with the maintenance and operation of the cross-country pipeline network. By leveraging cutting edge technology, this project aims to eliminate manual operations and enhance the efficiency, productivity, and availability of the pipeline network" said Mr. Senthil Kumar N, Director (Pipelines), IndianOil. "At IndianOil, we value our enduring partnership with ABB, which spans over a decade."

"With energy demand growing in line with population increases, ABB is committed to supporting global energy security, while making existing energy systems leaner and cleaner. We are proud to partner with IndianOil on the CPIMS project, which marks a significant leap in pipeline operations' efficiency, safety, integrity and cyber security," said G Balaji, Head of ABB Energy Industries in India. "Our advanced SCADA and cyber security solutions support real-time data monitoring and help protect the critical assets of pipeline networks."

ABB India Share Price Target

"ABB India is showing weakness around Rs 5,295, as it has fallen below important moving averages, indicating a downtrend. The stock faces resistance near Rs 5,350-Rs 5,400, meaning it may struggle to rise above this level. Support is at Rs 5,200-Rs 5,150, and if it falls below this, the price could drop further to Rs 5,000. Indicators like RSI and MACD suggest that selling pressure is strong. For a recovery, the stock needs to move above Rs 5,400, but if it fails to hold Rs 5,200, the decline may continue," commented Riyank Arora, Technical Analyst at Mehta Equities Ltd.

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