ABB advances on bagging orders worth Rs 141 crore

ABB has secured substation orders worth Rs 141 crore from Maharashtra State Electricity Transmission Company (MSETCL). The scrip is currently trading at Rs 677 per share, up 17.75 points or 2.69% on the BSE.

The stock opened at Rs 676 per share as against its previous day close at Rs 659.25 per share.

Intraday, the counter touched a high and a low of Rs 687.95 per share and Rs 650 per share, respectively.

So far, 54,726 shares of the company were traded on the BSE.

The group ‘A’ BSE 100 stock has touched its 52-week high of Rs 947 per share on July 23, 2008 and a 52-week low of Rs 344 per share on March 4, 2009.

The stock has declined by 9.98% since the past one week and by 11.11% in the last one month.

The orders consist of design and engineering, civil works, supply, installation, commissioning and overall project management. The turnkey solution includes the supply of a range of circuit breakers, instrument transformers, power transformers, power line carrier communication (PLCC) equipment, and the supervisory control and data acquisition (SCADA) system to enable better monitoring and control of power supply.

The 220kV and 132kV substations will be located in Nashik, Amravati and Nagpur zones of the western Indian state of Maharashtra, and are an internal part of MSETCL’s efforts to reduce transmission and distribution losses.

The order was won in the second quarter, and the project is scheduled for completion in 2010, the company said in its filing with the BSE.

ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB group companies operate in around 100 countries and employs around 120,000 people.