ABB gains on plan of installing standardized microgrid at Vadodara facility

05 Oct 2016 Evaluate

ABB India is currently trading at Rs. 1181.15, up by 9.90 points or 0.85% from its previous closing of Rs. 1171.25 on the BSE.

The scrip opened at Rs. 1178.90 and has touched a high and low of Rs. 1189.00 and Rs. 1171.00 respectively. So far 2817 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1432.70 on 11-Apr-2016 and a 52 week low of Rs. 963.05 on 21-Jan-2016.

Last one week high and low of the scrip stood at Rs. 1189.00 and Rs. 1109.55 respectively. The current market cap of the company is Rs. 24899.23 crore.

The promoters holding in the company stood at 75.00%, while institutions and non-institutions held 16.84% and 8.16% respectively.

ABB is planning to install a fully integrated and standardized microgrid at its Vadodara facility in Gujarat, to boost renewable energy generation, while reducing dependency on fossil fuel. This microgrid, with a rooftop photo voltaic field at the company’s biggest manufacturing location in India with around 3,000 employees, will help ensure uninterrupted power supply.

Microgrids are considered a viable and cost-efficient solution to not only improve access to electricity, but also to address other pressing issues related to energy supply, including growing demand, climate change, energy security and reliability for both industries and villages. In 2015 ABB exhibited the first multisource microgrid pilot at its Automation and Power World event in New Delhi, India. Over a period of 3 days, 1,350 kg of CO2 was saved and enough electricity was generated to power approximately 12,000 rural households.

ABB India is a leading global technology company in power and automation that enables utility, industry and transport & infrastructure customers to improve their performance while lowering environmental impact.

ABB India Share Price

6896.00 18.55 (0.27%)
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Peers
Company Name CMP
Havells India 1669.15
Siemens 6703.95
Apar Inds 10000.00
Waaree Energies 2829.00
ABB India 6896.00
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