ABB trading flat on getting orders from Powergrid

ABB is currently trading at Rs 488.40, up by 0.50 points or 0.10% from its previous closing of Rs 487.90 on the BSE.

The scrip opened at Rs 487.90 and touched a high of Rs 499 with a low of Rs 482. So far 30,212 shares were traded on the counter.

The BSE group ‘A’ Power sector stock of face value Rs 2 has touched a 52 week high of Rs 1180 and a 52 week low of Rs 344 on March 4, 2009.

The BSE Power index is currently trading at 2,064.03, down by 3.02% from its previous closing.

The scrip price has witnessed a correction of 7.77% since last week and an upswing of 16.31% since last month.

ABB, the leading power and automation technology group, has won substation orders worth around Rs 425 crore from Powergrid, India’s national transmission utility, to boost capacity and help improve grid reliability.

The contract is for the design, supply, installation and commissioning of 765 / 400 kilovolt (kV) substations at Agra (Uttar Pradesh), Wardha (Maharashtra), Bilaspur and Seoni (both Madhya Pradesh), and of a 400 / 220 kV substation at Palakkad (Kerala). The projects are expected to be completed by mid-2011.

The equipment to be supplied includes a range of circuit breakers; current transformers and capacitor voltage transformers, used for monitoring current and operations; surge arrestors; protection systems control and relay panels; as well as the latest substation automation.

The substation projects are part of Powergrid’s program to strengthen the national transmission grid and to enhance the inter-regional power transfer capacity to around 37,000 megawatts by 2012.