Meanwhile, the BSE Sensex was up 32.89 points or 0.21% to 16,062.98.

On BSE, 13,000 shares were traded in the counter as against average daily volume of 16,014 shares in the past one quarter.

The stock hit a high of Rs 717 and a low of Rs 705 so far during the day. The stock had hit a 52-week high of Rs 915 on 17 February 2012. The stock had hit a 52-week low of Rs 541.10 on 20 December 2011.

The stock had underperformed the market over the past one month till 16 May 2012, falling 15.17% compared with the Sensex's 6.54% fall. The scrip had also underperformed the market in past one quarter, declining 19.83% as against the Sensex's 11.7% fall.

The large-cap company has an equity capital of Rs 42.38 crore. Face value per share is Rs 2.

The ABB stock had tumbled 10.03% in seven trading sessions to settle at Rs 698.95 crore on Wednesday, 16 May 2012, from a recent high of Rs 776.90 on 7 May 2012.

ABB's net profit fell 20% to Rs 47.64 crore on 0.5% decline in net sales to Rs 1773.04 crore in Q1 March 2012 over Q1 March 2011. The company announced the results on 9 May 2012.

ABB said it received orders worth Rs 1632 crore in Q1 March 2012, compared with an order intake of Rs 1695 crore in Q1 March 2011. While the businesses relating to power sector continued to grow, those dependent on systems business from the industry were impacted due to poor market sentiments primarily driven by over capacities and high cost of capital, the company said.

The company's order backlog stood at Rs 9028 crore at the end of March 2012 as against Rs 8329 crore for the corresponding period in 2011. With this strong order backlog, the revenues of the company for the coming quarters remain secured, ABB said.

ABB's management said at the time of announcement of Q1 March 2012 results that the company continues to maintain a positive outlook for the future as the company moves forward with its investment plans for new manufacturing lines, enhance existing capacities, and introduce new products and solutions through use of best in class engineering and R&D

ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries.