ABB India rises on inaugurating new factory in Nashik

ABB India is currently trading at Rs. 3149.20, up by 9.30 points or 0.30% from its previous closing of Rs. 3139.90 on the BSE.

The scrip opened at Rs. 3141.05 and has touched a high and low of Rs. 3170.80 and Rs. 3135.00 respectively. So far 3568 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 3445.65 on 02-Sep-2022 and a 52 week low of Rs. 1944.60 on 28-Mar-2022.

Last one week high and low of the scrip stood at Rs. 3225.85 and Rs. 3123.90 respectively. The current market cap of the company is Rs. 66688.63 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 17.28% and 7.72% respectively.

ABB India has inaugurated its new state-of-the-art factory in Nashik, doubling its Gas Insulated Switchgear (GIS) production capacity. This factory will manufacture primary and secondary GIS. It will serve customers across various industries including power distribution, smart cities, data centers, transport (metro, railways), tunnels, ports, highways and other infrastructural developments.

Spread over 78,000 sq. ft., the new site is equipped with smart and lean manufacturing capabilities. It deploys advanced robotics for manufacturing which connects people, processes, assets, and is capable of relaying real-time data for enhanced productivity. Developed as per the norms set by the Indian Green Building Council (IGBC), this green factory building optimizes the use of water and energy. The factory also uses carefully selected materials to minimize the life cycle environmental impacts. In line with ABB’s Sustainability Strategy 2030 targets, the factory has also realized its RE100 (100% renewable electricity) commitment to achieve low carbon operations.

With the inauguration of this new factory, ABB India also launches PrimeGear ZX0 in the country. This eco-efficient switchgear is built on ABB’s SF6-free ecoGIS with Dry Air technology for applications up to 12kV in the factory in Nashik, supporting the migration to a greener, smarter and safer future. Being a market leader in GIS, this factory of ABB in India will strengthen the local manufacturing and contributes towards creating a low-carbon society.

ABB India is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future.