ABB India gained 2.06% to Rs 1,099 after the company launched a new range of M3BP motors for its industrial customers in India.
ABB's new range of low voltage IEC induction motors are compactly designed and reduces the overall size of the equipment thus minimizing space and total cost of ownership. The launch will further strengthen ABB's presence in segments such as metals, cement, pulp & paper, water & wastewater and applications including fan, pump, compressor, crusher, crane etc.
Sanjeev Arora, the President of Motion Business Area, ABB India, stated: "The M3BP high output series is a win-win solution for our customers and ABB. We have worked tirelessly over the past few months to bring this offering to the Indian market. The M3BP motors are manufactured at our Bangalore and Faridabad factories, and will help in ramping up volume. This launch reinforces our commitment to offer greater flexibility for specific customer requirements and most demanding environments and applications."
ABB India's standalone net profit rose 2.4% to Rs 80.74 crore on 7.2% fall in net sales to Rs 1,600.11 crore in Q3 September 2020 over Q3 September 2019.
ABB India is engaged in power and automation business in India.
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