Shares of power and automation technology firm ABB today soared over 13 per cent after the company said it has teamed up with Power Grid Corporation for a transmission link project worth over Rs 4,350 crore.
The stock surged 12.87 per cent to settle at Rs 1,176 on BSE. Intra-day, it jumped 15 per cent to Rs 1,199.
At NSE, shares of the company zoomed 13.37 per cent to end at Rs 1,175.50.
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ABB today said it has teamed up with Power Grid Corporation of India for a transmission link project worth over Rs 4,350 crore to bring reliable electricity to over 80 million people.
The Raigarh-Pugalur 800 kilovolt (kV) UltraHigh-Voltage Direct Current (UHVDC) system will connect Raigarh in central India to Pugalur in Tamil Nadu, the company said.
It said the 1,830 km link will be among the longest in the world, with a capacity of 6,000 megawatts -- the equivalent of more than six large power plants -- which will be enough to meet the electricity needs of over 80 million people.
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