Page 3 - Abb India

ABB forms strategic partnership with Titagarh for metro projects in India

The partnership covers an agreement for Titagarh to purchase ABB propulsion systems, including traction converters, auxiliary converters, traction motors and TCMS software

Stocks to Watch today: Tata Motors, ZEE, Ashok Leyland, GIC, Aurobindo, HGS

Stocks to watch on Friday, November 10, 2023: Biocon, Hindustan Aeronautics, Hindalco, LIC, M&M, ONGC, SAIL and Tata Chemicals among prominent companies scheduled to announce Q2 results today.

ABB India net profit up 83.7% on back of improved operational performance

New order wins in the quarter ended September 2023 was at Rs 3,004 crore, up 14 per cent from a year ago, with an outstanding order book of Rs 8,008 crore

ABB India Q2 net profit rises 79% to Rs 362 cr, income up at Rs 2,846 cr

Electrification and automation major ABB India on Thursday posted a 79 per cent rise in its net profit to Rs 362 crore in the September quarter compared to the year-ago period mainly on the back of higher revenues. It net profit stood at Rs 203 crore in the quarter ended on September 30, 2022, a BSE filing showed. Total income rose to Rs 2,846.01 crore in the quarter from Rs 2,166.62 crore in the same quarter a year ago. The company follows the January-December financial year. Sanjeev Sharma, Managing Director, ABB India said in a statement, "We are pleased to announce another strong quarter marked by double-digit revenue growth and continuity in order backlog buildup. "We are seeing momentum in large orders intake that shows customers' preference for our energy-efficient and high-quality solutions in diverse market segments, he added. The company's cash position continues to remain robust at Rs 4,356 crore at the end of Q3 2023 (July-September 2023). The Company reported an EPS

ABB to roll out electric powertrain system for ArcelorMittal Nippon Steel

Electrification and automation major ABB on Wednesday said it will roll out an electric powertrain system for ArcelorMittal Nippon Steel's new steel mill in Hazira. "ABB is partnering with SMS group to supply all the medium-voltage (MV) motors and MV drives for a new hot strip mill at Hazira, in Gujarat," an ABB statement said. ABB is working in partnership with SMS group -- a specialist in plant construction, mechanical and electric & automation engineering for the metals industry -- to provide all the MV motors and MV drives for ArcelorMittal Nippon Steel's new hot strip mill in India, it explained. The scope also includes a large number of low-voltage (LV) drives. The project at Hazira, an industrial hub in Gujarat, is part of a major expansion of the site, which is already India's fifth-largest producer of crude steel. When it becomes operational in 2025, the new mill will increase Hazira's production capacity by around 5.5 million tonne per year, the statement said. The hot .

Tata Steel, ABB India partner to develop tech to reduce carbon footprint

Automation company ABB India and Tata Steel have partnered to jointly work on technologies for reducing the carbon footprint of steel production. The steelmaker has a medium-term target to reduce carbon emissions to less than two tonnes of Co2 per tonne of crude steel in its Indian operations by 2025, ABB India said in a statement. "Tata Steel Ltd and ABB India have signed Memorandum of Understanding (MoU) for a project and will work together to co-create innovative models and technologies to help reduce the carbon footprint of steel production," the statement said. Under the MoU, the two companies will focus on system-level assessments of Tata Steel's manufacturing plants and production facilities for evaluation and co-development of short and long-term options for energy efficiency, decarbonization and circularity. ABB and Tata Steel will explore energy optimization via hydrogen as an alternative fuel for upstream processes and energy reduction as well as substitution through ful

Seeing growth in both public, private capex: ABB India's Sanjeev Sharma

At present, we don't have reason to believe in a slowdown, but we do anticipate saturation in one segment or another after certain investments, says Sanjeev Sharma, Country Head & MD, ABB India

ABB India bags order to automate Reliances' biopharmaceutical facilities

ABB India on Monday announced that it has secured a major automation contract from Reliance Life Sciences (RLS) to automate its new manufacturing plants in Nashik. However, the company did not disclose the value of the order. ABB India has secured a major automation contract from Reliance Life Sciences (RLS) to automate its new manufacturing plants in Nashik, Maharashtra, a company statement said. RLS' 160-acre facility at Nashik will house manufacturing plants for plasma proteins, biopharmaceuticals, oncology pharmaceuticals and vaccines. Large-scale biotechnology production presents distinct and complex process and automation challenges. These processes adhere to strict regulatory guidelines to ensure product quality, and ABB's System 800xA solution reduces manufacturing errors and ensures high-quality yields. It connects seamlessly with various skid systems and is used extensively for seamless operator interaction, batch control and production information on the factory floor.

Growth expectations to support valuations of Siemens, ABB India stocks

Indian auto companies are investing in robotics which is a potential source of traction

ABB India's profit doubles to Rs 296 cr in June qtr due to higher revenue

ABB India's net profit more than doubled to Rs 296 crore in the June quarter of the current fiscal mainly due to higher revenues. The company reported a net profit of Rs 147 crore in the same quarter of the previous fisca, ABB India said in a statement. Total revenues of the company rose to Rs 2,509 crore in the quarter from Rs 2,053 crore in the same period a year ago. The company follows January to December fiscal year. Sanjeev Sharma, Managing Director, ABB India, said in the statement, "ABB India's Q2 (April-June) performance is testimony to the strength of its industry-leading portfolio and capabilities. We continued growth momentum during the quarter, built on strong order backlog execution, delivering highest ever quarterly operational EBITA." Our balance sheet and cash position remain robust, putting us in a strong footing to prepare for future opportunities, he added. Total orders for the quarter stood at Rs 3,044 crore and Rs 6,169 crore for the first half of 2023. Whi

These 5 large-caps can deliver up to 15% returns despite market volatility

Shares of UltraTech Cement and Titan Company reached new historic peaks, while ABB India hit a new 52-week high on Friday

ABB expands Bengaluru facility for production of energy-efficient modules

Electrification and automation major ABB India on Thursday announced the expansion of its facility at Peenya factory in Bengaluru by setting up a new line for the production of variable speed drive modules. Variable speed drive modules are used to control the speed of electric motors to match the actual demands of the process to improve energy efficiency and performance in any industrial application or any building globally. When added to the existing motor of a pump, fan or compressor, a drive can typically reduce power consumption by up to 25 per cent, the company said. "ABB India expands its production footprint with a new line for variable speed drive modules at the Peenya factory in Bengaluru," the company said in a statement. The new line will produce drives ranging from 75 kW to 250 kW and will cater to all major industrial segments. Part of the integrated campus that houses ABB's corporate office and other business' factories, this new production line aims to meet the grow

High valuations may cap further upside in ABB stock; prospects 'positive'

The company posted better than expected results for the March quarter, and prospects remain strong

ABB India hits new high on strong Q1 results; stock up 33% so far in 2023

ABB's order inflows came at Rs 3,125 crore, up 36.4 per cent year-on-year (YoY) with order backlog of Rs 7,170 crore, which was up by 37.1 per cent, YoY.

Stocks to watch: SpiceJet, IOC, Granules India, Phoenix Mills, ABB India

Stocks to watch: From SpiceJet to Indian Oil Corporation, here are top stocks likely to be in action in Monday's trading session

Why ABB's good fourth quarter numbers may not boost its share price

While global slowdown may limit growth and margins may have peaked, analysts are divided with target prices ranging between Rs 2,820 and Rs 3,370

ABB steps up focus on manufacturing amid revival in the capex cycle

Plan is to increase number of factories in country; position India as global hub for exports

ABB India mulls utilising Rs 1,800 cr for acquisitions to drive growth

Electrification and automation major ABB India can utilise around Rs 1,800 crore of its cash balance for inorganic growth or acquisitions apart from organic expansion plans, a top company official said. The company has identified high-growth potential segments, including transportation, data centres, electronics, warehousing and logistics, water, renewable, food and beverage, pharma and healthcare, automotive, etc. "We have a robust cash balance of Rs 3,616 crore, which can support (it) to take part in the bolt-on acquisition strategies to the extent of 50 per cent of cash available, apart from organic expansion plans," Sanjeev Sharma, Country Head and Managing Director, ABB India told reporters. Sharma stated that its electronics, railways & metro, data centres, warehouse & logistics and renewables segments are growing at a high rate of 15 per cent and above. Food & beverage, pharma & healthcare, water & wastewater and automotive segments are growing at a moderate

ABB India net profit rises by 58% to Rs 306 crore in December quarter

ABB India on Friday posted a 58 per cent jump in its net profit at Rs 306 crore in the December quarter, mainly on the back of higher revenues. The company's net profit stood at Rs 194 crore in the year-ago period. For Q4 CY2022, the net profit was Rs 306 crore, up by 58 per cent year-on year, the company said in a statement. In the December quarter, total revenue rose to Rs 2,427 crore from Rs 2,101 crore a year ago. The company follows January to December calender as its financial year. For CY2022, the net profit almost doubled to Rs 1,026 crore from Rs 532 crore in CY2021, it said. The profit after tax for CY2022 includes an exceptional item of Rs 339 crore from the profit on the sale of the turbocharger business, it explained. It posted a revenue of Rs 8,568 crore for CY2022, the highest in the last five years. Its revenue was at Rs 6,934 crore in CY2021. ABB India achieved a significant milestone in order booking by reaching Rs 10,028 crore in CY2022 and Rs 2,335 crore for

Varun Beverages, ABB India rise to MFs' largecap bucket after strong run-up

Muthoot Finance, Paytm move to the midcap list after MF industry rejigs stock classification