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20-Jul2017

ABB India trades jubilantly on reporting 13% order growth in Q2FY18

ABB India is currently trading at Rs. 1530.10, up by 77.45 points or 5.33% from its previous closing of Rs. 1452.65 on the BSE.

The scrip opened at Rs. 1464.95 and has touched a high and low of Rs. 1548.40 and Rs. 1440.00 respectively. So far 72962 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. 1548.40 and Rs. 1175.00 respectively. The current market cap of the company is Rs. 31150.53 crore.

The promoters holding in the company stood at 75.00%, while institutions and non-institutions held 16.94% and 8.06% respectively.

ABB India has reported 13% orders growth in Q2FY18 and 20% orders growth in H1 ending June 30, 2017. Large orders remained muted as decisions on government initiatives and private investments were stalled in anticipation of upcoming tax restructure. Base orders were the key contributor with industry turning to improving operational efficiencies through technology and digital upgrades including robotics automation.

The company has strengthened its own digital asset health management offering to support the transformation of the Indian industry - with the launch of its remote drives service center. Focus on 24x7 reliable Power to All resulted in continued focus on state utility infrastructure including a wider reach to remote locations while balancing burgeoning renewable input.

Strategically leveraging the extensive installed base sustained strong growth in service orders. Export orders continued the uptrend in the year with a focus on power networks and industrial efficiency.

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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