ABB India gains on planning to install solar inverters at 750 railway stations in India

01 Sep 2017 Evaluate

ABB India is currently trading at Rs. 1345.90, up by 2.15 points or 0.16% from its previous closing of Rs. 1343.75 on the BSE.

The scrip opened at Rs. 1360.00 and has touched a high and low of Rs. 1372.00 and Rs. 1342.00 respectively. So far 5244 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1619.45 on 10-May-2017 and a 52 week low of Rs. 950.00 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 1372.00 and Rs. 1335.05 respectively. The current market cap of the company is Rs. 28562.07 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 16.94% and 8.06% respectively.

ABB India will provide solar inverters to 750 railway stations in north India to reduce dependence on traditional sources of energy. Indian Railways, which runs one of the largest railway networks in the world, carries more than 8 billion passengers annually. The 750 stations are located in the busy northern Indian part of the network, one of the most used railway corridors in the world. ABB recently reached a milestone of 5 GW of solar inverters installed, supplying some 40 percent of India's solar power at approximately 13 GW.

ABB solar inverters for this project vary between 5kW to 50kW in performance depending on the size of the station part of the ABB Ability of connected solutions, the customer can ensure uptime through remote management services. They will be part of the solar installations being set up by Azure Power. ABB set up its solar inverter manufacturing facility in India in 2012 and contributes to approximately 40 percent of the country's solar installations. ABB solar inverters have been widely used in the transportation sector, deployed, for instance, in the world's first fully solar powered airport in Kochi.

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

6917.25 -27.85 (-0.40%)
27-Dec-2024 14:47 View Price Chart
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