ABB advances on getting nod to acquire Baldor Electric India

11 Aug 2011 Evaluate

ABB is currently trading at Rs. 801.50, up by 4.15 points or 0.52% from its previous closing of Rs. 797.35 on the BSE.

The scrip opened at Rs. 793.00 and has touched a high and low of Rs. 819.05 and Rs. 782.35 respectively. So far 7038 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 974.90 on 29-Sep-2010 and a 52 week low of Rs. 595.80 on 10-Feb-2011.

Last one week high and low of the scrip stood at Rs. 850.00 and Rs. 759.05 respectively. The current market cap of the company is Rs. 16896.51 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 15.66% and 9.34% respectively. 

ABB has received its board’s approval for the proposal to acquire 100 per cent shares of Baldor Electric India from Baldor Holdings Inc., USA and Baldor Electric Switzerland.  The deal would be worth about Rs 35.7 crore. The proposal was approved by the board of directors during their meeting held on August 8, 2011.

ABB Group had acquired Baldor Electric Company, USA, in January this year. Baldor Group is now integral part of ABB Group. Baldor provides sales and service assistance to its customers including support for the products viz., electric motors, power transmission products, drives, generators and other accessory products.

ABB Group is a leading power and automation technology solutions provider.

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