ABB India shares fall 5% after this announcement by its global parent

Shares of ABB India Ltd. fell as much as 5% on Thursday, January 30, after the company's parent ABB Plc disclosed earnings for the quarter gone by.

The earnings statement for ABB Plc indicated that the orders for the India region, for the quarter that ended in December, have declined 21% on a year-on-year basis.

It must be noted that ABB Plc numbers look at third-party customers in India, who give orders to ABB Entities in India.

It is hard to draw a co-relation between the two companies. During the June quarter, ABB Group grew 3% in India, while orders to the India business grew by 13%.

For the September quarter, ABB Group's growth in India stood at 9%, compared to 3% in June and 5% in March.

Shares of ABB India fell as much as 5% and are currently trading 3.6% lower at ₹5,893. The stock is down 43% from its peak of ₹9,149.