Q3 was also marked by orders for smart cities in Ranchi and the ancient city of Ujjain for smart power distribution equipment like compact substations and ring main units
ABB India's Q1 show negates concerns on hiving of power grid business; focus shifts to Siemens India following its parent's restructuring act
Despite exclusion of power grid operations, December quarter results echoed strength of continued activity
Division accounts for 40% of firm's revenues and about half the order book
ABB India was trading higher for the fifth straight day, rallied 7% at Rs 1,474, its highest level since March 7, 2018.
ABB India and Niti Aayog had in May inked a pact to help the country reap the benefits of latest technologies including robotics and artificial intelligence
On the utilities side, thermal generation is muted and being replaced by renewable, says Sanjeev Sharma
The firm is open to partnership with the government on charging standards
The company said order backlog of Rs 12,094 cr as of Q2 provides solid visibility for future revenue
Stock up over 10% reacting to strong order inflows
The stock rallied 10.6% to Rs 1,550, also its 52-week high on BSE in early morning trade.
Company's stock price grew by around 1% at Rs 1,220 on the Bombay Stock Exchange
The contract is for building the world's largest power transmission link for PGCIL
While valuations have moderated significantly, earnings support is weak
The firm said it had a backlog of Rs 8,676 crore as of September, including new orders of Rs 2,967 crore in the quarter
The project includes a 600 kW rooftop solar photovoltaic field and a Power Store Battery grid stabilising system
The technology helps reduce low frequency noise and vibrations, and allows the crew to maintain diesel engines while the ship is berthed
The company pioneered manufacturing of solar inverters in India with the state-of-art Bengaluru factory in 2012
Operating profit margin improved to 8.2%; order inflows need to accelerate for stock re-rating
Total revenue for the April-June quarter stood at Rs 2,102 crore against Rs 1,932 crore last year, registering a growth of 8.79%