ABB EXTENDS GAINS ON NEW ORDER
Date: 13/04/2012
Meanwhile, the BSE Sensex was up 31 points, or 0.18% to 17,363.62.
On BSE, 3,552 shares were traded in the counter as against average daily volume of 19,990 shares in the past one quarter.
The stock hit a high of Rs 848.85 and a low of Rs 838 during the day. The stock had hit a 52-week high of Rs 915 on 17 February 2012. The stock had hit a 52-week low of Rs 541.10 on 20 December 2011.
The stock had outperformed the market over the past one month till 12 April 2012, falling 0.49% compared with the Sensex's 1.45% fall. The scrip had also outperformed the market in past one quarter, surging 23.21% as against Sensex's 8.08% gain.
The large-cap power and automation company has an equity capital of Rs 42.38 crore. Face value per share is Rs 2.
The ABB stock has gained 2.33% in two trading sessions from Rs 822.85 on 11 April 2012, after the company said during trading hours on Thursday, 12 April 2012, it has secured an order worth Rs 75 crore from Delhi Metro Rail Corporation (DMRC) to provide power solutions for a planned Jaipur Mass Rapid Transport System (MRTS) in Rajasthan. The stock had risen 1.59% to settle at Rs 835.95 on Thursday, 12 April 2012.
ABB said the turnkey project to provide power solutions for a planned Jaipur MRTS includes design, supply, installation and commissioning of essential power infrastructure for stage 1 of the East West Corridor of the Jaipur MRTS. This section will serve eight passenger stations. The company will supply 11 auxiliary substations with a rating of 33 kV/415V (kilovolts), ABB said in a statement.
The Jaipur MRTS is being promoted as an eco-friendly project deploying state-of-the-art technologies and is expected to carry approximately 11,000 commuters per hour on each rail corridor when fully operational, reducing road traffic bottlenecks and lowering carbon emissions from cars, ABB said.
ABB's net profit jumped 847% to Rs 64.11 crore on 5.8% growth in net sales to Rs 2169.64 crore in Q4 December 2011 over Q4 December 2010.
ABB is a leader in power and automation technologies. The ABB Group of companies operate in around 100 countries worldwide.
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