Buy ABB on declines: Baliga

Buy ABB on declines, says Ambareesh Baliga, Karvy Stock Broking.

Baliga told CNBC-TV18, "ABB results were very disappointing but I think the only reason to buy ABB could be a possible buyback but that could be sometime away. So this is basically meant for those who have a lot of patience but then because the results, it is possible that we could see ABB still around Rs 40-50 lower, so I think at those levels one could look at buying." The company's trailing 12-month (TTM) EPS was at Rs 7.84 per share. (Sep, 2010). The stock's price-to-earnings (P/E) ratio was 85.87. The latest book value of the company is Rs 113.72 per share. At current value, the price-to-book value of the company was 5.92. The dividend yield of the company was 0.3%.