ABB trades in green on the bourses

ABB India is currently trading at Rs. 1155.00, up by 5.60 points or 0.49% from its previous closing of Rs. 1149.40 on the BSE.

The scrip opened at Rs. 1150.00 and has touched a high and low of Rs. 1159.25 and Rs. 1143.45 respectively. So far 2171 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. 1133.75 respectively. The current market cap of the company is Rs. 24476.48 crore.

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

ABB has developed, manufactured and energized a 1.200-kilovolt (kV) ultrahigh voltage power transformer to support India’s plans to build a 1,200 kV transmission system, supplementing the existing 400 kV and 800 kV transmission grids as demand for electricity increases. This 1.2 million volt transformer represents the highest alternating current voltage level in the world and is installed at the national test station at Bina, Madhya Pradesh in Central India, as part of a collaborative initiative by the country’s central transmission utility, Power Grid Corporation of India (Power Grid). The transformer was manufactured and tested at ABB’s facility in Vadodara.

India’s geographic span means that resource-rich generation centers and urban and industrial load centers are often far apart calling for efficient power transmission. Along with the country’s commitment to enhance the contribution of renewables, these factors are driving the development of an ultrahigh voltage transmission infrastructure.  The 1,200 kV transmission system will help strengthen the grid and enhance load capacity up to 6,000 megawatts (MW). Transmission at higher voltages enables larger amounts of electricity to be transported across longer distances, while minimizing losses. At the same time, less space is needed for fewer transmission lines which reduces the environmental impact and overall cost.

ABB 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 Group of companies operates in roughly 100 countries and employs about 135,000 people.