ABB jumps on securing UHVDC power transmission order

23 Dec 2011

ABB is currently trading at Rs. 596.00, up by 25.75 points or 4.52% from its previous closing of Rs. 570.25 on the BSE.

The scrip opened at Rs. 590.00 and has touched a high and low of Rs. 619.00 and Rs. 589.00 respectively. So far 23382 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 907.50 on 02-Aug-2011 and a 52 week low of Rs. 541.10 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 619.00 and Rs. 541.10 respectively. The current market cap of the company is Rs. 12084.08 crore.

The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 15.96% and 9.04% respectively.

ABB, the leading power and automation technology group, has booked an order worth more than Rs 4,000 crore from Power Grid Corporation of India (PGCIL), to deliver an ultrahigh-voltage direct current (UHVDC) transmission system. The link will supply hydropower from mountainous North-East India to the populous region of Agra in central India, 1,700 kilometers away.

ABB in India will book over Rs 500 crore of the total order value for local equipment supplies and will additionally contribute to the project with design and engineering services.

ABB will execute the North-East Agra transmission project together with Bharat Heavy Electricals (BHEL), who will deliver the remainder of the project. The total project is worth about Rs 5,000 crore and will be executed on a turnkey basis including design, system engineering, supply, installation and commissioning. It is scheduled to go into operation in 2015.

The UHVDC link, operating at 800 kilovolts (kV) will have a converter capacity of 8,000 megawatts (MW), the highest ever built. When operating at full capacity, it will have the means to supply electricity to 90 million people based on current figures for average national consumption.

ABB is a global leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. UHVDC transmission is a development of HVDC, a technology pioneered by ABB more than 50 years ago, and represents the biggest capacity and efficiency leap in over two decades.

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