ABB India is currently trading at Rs. 1038.35, up by 2.80 points or 0.27% from its previous closing of Rs. 1035.55 on the BSE.
The scrip opened at Rs. 1041.50 and has touched a high and low of Rs. 1062.80 and Rs. 1022.50 respectively. So far 28608 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1069.00 on 17-Jun-2014 and a 52 week low of Rs. 448.10 on 30-Aug-2013.
Last one week high and low of the scrip stood at Rs. 1069.00 and Rs. 962.35 respectively. The current market cap of the company is Rs. 21868.94 crore.
The promoters holding in the company stood at 75.00% while Institutions and Non-Institutions held 16.60% and 8.40% respectively.
In a bid to develop cost efficient manufacturing solutions, ABB India is planning to tie up with universities in India. The company spends over $1 billion each year globally on research and development.
The objective of the research is to look for new materials and manufacturing techniques which will cut down the dependence on imports and reduce overall costs.
Further, the company is planning to cut down its import bill, which is currently pegged at 30-32 per cent of its expenditure, by carrying out an indigenisation programme. The programme does not just cover local sourcing or local manufacturing; it also looks at the design aspect of the products.
ABB is a leader in power and automation technologies that enable utility and industry customers to improve their performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries and employs more than 150,000 people.
