Order win pushes ABB India counter higher

ABB India rose 0.78% to Rs 1,079.80 at 10:00 IST on BSE after the company said that it won an order to supply 1,600 transformers to support railway expansion in India.

The announcement was made after market hours yesterday, 15 November 2016.

Meanwhile, the S&P BSE Sensex was up 91.22 points or 0.35% at 26,400.69.

On BSE, so far 1,141 shares were traded in the counter as against average daily volume of 5,608 shares in the past one quarter. The stock hit a high of Rs 1,093 and a low of Rs 1,077 so far during the day. The stock had hit a 52-week high of Rs 1,432.70 on 11 April 2016. The stock had hit a 52-week low of Rs 950 on 9 November 2016. The stock underperformed the market over the past one month till 15 November 2016, dropping 7.14% compared with the Sensex's 4.95% fall. The scrip also underperformed the market in past one quarter, declining 10.08% as against the Sensex's 6.56% decline.

The large-cap company has an equity capital of Rs 42.38 crore. Face value per share is Rs 2.

ABB India said that it won an order from Alstom to supply 1,600 traction transformers for 800 new electric freight locomotives in India. The transformers will be manufactured locally in ABB's Vadodara facility in Gujarat, supporting the government's 'Make in India' initiative to encourage manufacturing in the country. ABB will supply 25 kilovolt (kV)/50 hertz (Hz) underframe traction transformers for the 800 locomotives (2 units per locomotive). The compact transformers are designed for the most demanding conditions, including extreme temperatures and voltage fluctuations. They will support heavy freight loads over long distance haulage under rigorous conditions, including steep inclines.

ABB India's net profit rose 38% to Rs 81.06 crore on 4.4% rise in net sales to Rs 2024.80 crore in Q3 September 2016 over Q3 September 2015.

ABB 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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