ABB Power locked in 5% upper circuit for second day after market debut

ABB Switzerland and Hitachi have together launched an open offer to acquire up to 10.59 million equity shares in ABB Power Products and Systems India at Rs 851 per share.

Shares of ABB Power Products and Systems India were locked in the 5 per cent upper circuit for the second straight day, at Rs 787, on the BSE on Wednesday since its market debut on Monday.

Till 11:51 am, a combined 14,779 shares  have changed hands and there were pending buy orders for 74,627 shares on the NSE and BSE, data show. In comparison, the S&P BSE Sensex was down 3.6 per cent or 1,064 points at 28,405 level.

ABB Power Products and Systems India is the standalone legal entity of ABB’s Power Grids. The company had de-merged