Buy ABB India Ltd for the Target Rs. 6,000 by Motilal Oswal Financial Services Ltd
* Expect revenue to grow 15% YoY, driven by strong execution of base orders in Electrification/Motion, aided by tailwinds in data centers, renewables and railways.
* Key monitorables include order inflow improvement, margin improvement, export outlook, and localization levels.
* We expect margins to contract by ~430bp YoY due to QCO compliance forcing higher-cost imports, along with forex volatility and pricing pressure in motors.
* We will watch out for incremental inflows from transmission, railways, data centers, transportation, F&B, and private capex to support order inflow growth.
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