ABB slides after reporting a 92% fall in net profit to Rs 6.63 crore for the quarter ended March 2010. The power equipment major is trading at Rs 751, lower by 5%, on the BSE. The shares had opened at the day's high of Rs 799 and have touched a low of Rs 747 thus far.
The slump in net was a result of foreign exchange losses, cost overruns in some large projects and early exit costs from the rural electrification business.
A total of 0.9 shares have been traded on the counter thus far, as against the two-week average of 0.5 lakh shares.