ABB surges on bagging orders worth Rs 334 crore

ABB India is currently trading at Rs. 1187.75, up by 23.80 points or 2.04% from its previous closing of Rs. 1163.95 on the BSE.

The scrip opened at Rs. 1175.00 and has touched a high and low of Rs. 1187.75 and Rs. 1175.00 respectively. So far 104 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1263.50 on 22-Sep-2014 and a 52 week low of Rs. 568.05 on 30-Jan-2014.

Last one week high and low of the scrip stood at Rs. 1174.45 and Rs. 1081.25 respectively. The current market cap of the company is Rs. 24665.08 crore.

The promoters holding in the company stood at 75.00 % while Institutions and Non-Institutions held 16.93 % and 8.07 % respectively.

ABB India, power and automation technologies provider has received orders worth Rs 334 crore from public utilities, Bihar Grid Corporation (BGCL) and West Bengal State Electricity Transmission Company (WBSETCL), to build new transmission and distribution substations that will boost power supplies in the region. The two east Indian states of Bihar and West Bengal regularly face significant power shortfalls and demand is rising, fuelled by mining, agriculture and increasing urbanization. Both states have ambitious plans to significantly enhance their power-generation capacity, which in turn needs complementary transmission infrastructure.

As part of a turnkey contract in Bihar, ABB will design, supply, install and commission 220/132/33 kV (kilovolt) gas-insulated switchgear (GIS) substations across four locations. These substations will deploy ABB's compact high-voltage GIS technology which can reduce the substation footprint by up to 70 percent compared with conventional air-insulated switchgear (AIS) substations. Other equipment includes medium-voltage switchgear, state-of-the-art IEC 61850-compliant protection and substation automation systems, as well as fiber-optic telecommunications systems.

In West Bengal, ABB will design, supply, instal and commission a 22(1132133 kV AIS substation to help meet the growing demand for electricity in the Sadaipur region. Other ABB product supplies include IEC 61850-compliant substation automation, power-line communication carriers (PLCC) and fiber-optic telecommunications systems.

ABB India is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs more than 150,000 people.