ABB India surges on providing technology for pollution-free e-rickshaws in Jabalpur

ABB India is currently trading at Rs. 1336.25, up by 19.40 points or 1.47% from its previous closing of Rs. 1316.85 on the BSE.

The scrip opened at Rs. 1319.00 and has touched a high and low of Rs. 1343.60 and Rs. 1319.00 respectively. So far 898 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. 1402.00 and Rs. 1308.00 respectively. The current market cap of the company is Rs. 28372.41 crore.

The promoters holding in the company stood at 75.00%, while institutions and non-institutions held 16.95% and 8.05% respectively.

ABB India is providing critical technology through its solar inverters for solar powered charging stations for e-rickshaws at four locations in Jabalpur. As the sun hits the solar panels at the charging station, generating the direct current (DC) energy, the ABB inverters convert that power to the alternating current (AC) used in charging the e-rickshaws. The solar powered charging stations are part of a renewable energy project initiated by the Jabalpur Smart City Corporation. The solar panels are also connected to the state grid to feed in additional power generated through net metering. The ABB inverters come with Wifi connectivity for remote monitoring and centralized billing provisions in the future.

Jabalpur currently has 400 licensed e-rickshaws plying in the city. This pilot project is an endeavor to provide these e-rickshaws with renewable-energy-powered charging stations. The ultimate aim is to also convert the 5,000 diesel-run city rickshaws to a cleaner, greener mode of propulsion, reducing carbon emissions in transportation and bringing down pollution levels in the city. This project is one of the first of its kind in the country, demonstrating green generation and green usage. The solar powered charging stations, capable of generating 50 kilowatts of electricity, take between 7 to 8 hours for a full recharge, enabling the vehicle to travel 100 to 150 kilometers.

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.