ABB surges on bagging orders worth Rs 310 crore from Power Grid

21 Feb 2014 Evaluate

ABB is currently trading at Rs. 682.80, up by 2.60 points or 0.38% from its previous closing of Rs. 680.20 on the BSE.

The scrip opened at Rs. 683.00 and has touched a high and low of Rs. 689.00 and Rs. 679.55 respectively. So far 17755 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 720.20 on 05-Dec-2013 and a 52 week low of Rs. 448.10 on 30-Aug-2013.

Last one week high and low of the scrip stood at Rs. 698.40 and Rs. 570.40 respectively. The current market cap of the company is Rs. 14495.59 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 16.44% and 8.56% respectively.

ABB, the leading power and automation technology group, has bagged multiple orders worth Rs 310 crore ($56 million) from Power Grid Corporation of India to supply power transformers and shunt reactors for substations being built to support the country's ultrahigh voltage transmission grid development. These orders were booked in the fourth quarter of 2013 and in the first quarter of 2014.

Fourteen 500 megavolt ampere (MVA), 765 kilovolt (kV) ultrahigh voltage single-phase auto- transformers based on ABB's proven technology will be installed at greenfield substations being constructed in Kanpur and Varanasi. These substations will receive power from the neighboring states of Jharkhand and West Bengal and will be distributed in the northern Indian state of Uttar Pradesh (UP) to meet growing demand in the region.

Further, ABB will also supply 26 units of 80 MVA and 10 units of 110 MVA, 765 kV ultrahigh voltage single- phase shunt reactors for four substations being built in southern and eastern India.

ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs more than 150,000 people

ABB India Share Price

6960.00 36.20 (0.52%)
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Apar Inds 10169.40
Waaree Energies 2931.95
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