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18-Apr2017

ABB India surges on bagging order worth Rs 178 crore from PGCB

ABB India is currently trading at Rs. 1470.00, up by 18.10 points or 1.25% from its previous closing of Rs. 1451.90 on the BSE.

The scrip opened at Rs. 1446.25 and has touched a high and low of Rs. 1482.25 and Rs. 1446.25 respectively. So far 7536 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1482.25 on 18-Apr-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. 1482.25 and Rs. 1400.05 respectively. The current market cap of the company is Rs. 31049.87 crore.

The promoters holding in the company stood at 75.00%, while institutions and non-institutions held 16.91% and 8.09% respectively.

ABB India has bagged an order worth around Rs 178 crore, from Power Grid Company of Bangladesh (PGCB), the country's leading transmission utility, to support the country's power infrastructure expansion and meet its growing electricity needs. As part of the project, ABB India will build two new substations and upgrade two existing substations, all located in the south-eastern parts of Bangladesh. The order was booked in the first quarter of 2017. The design, engineering, system integration and supply of key products will be executed in India, another example of making in India for the world.

The substations will add around 535 megawatts (MW) of transmission capacity -- enough to power more than 250,000 households -- and contribute to the government's target of providing access to electricity for its population of around 165 million, by 2021. The government of Bangladesh is working towards its 'Vision 2041', which outlines plans to have a strong and developed economy by 2041. To achieve this, the country is focusing on a steady GDP growth of over 7 percent. This economic growth ambition is also boosting the demand for electricity.

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.


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