Moneycontrol
Last Updated : Feb 19, 2019 02:30 PM IST | Source: Moneycontrol.com

ABB India gains on order wins from Indian Railways

The share touched its 52-week high Rs 1,560.55 and 52-week low Rs 1,123.00 on 01 March, 2018 and 28 June, 2018, respectively.

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Shares of ABB India rose 1.7 percent intraday Tuesday after company won an order from Indian Railways.

The company has won its largest traction equipment order in India, worth more than Rs 270 crore to supply state-of-the-art converters for electric locomotives from Diesel Locomotive Works (DLW), in Varanasi.

The converters are custom designed for Indian Railways and will be manufactured at one of company's largest factories for locomotive applications in Nelamangala, near Bengaluru, in Southern India.

Sanjeev Sharma, Managing Director, ABB India said, “We are privileged to work with DLW and Indian Railways on the electrification of the domestic rail network in India – the fourth largest rail network in the world."

At 14:25 hrs ABB India was quoting at Rs 1,244.75, up Rs 12.60, or 1.02 percent.

The share touched its 52-week high Rs 1,560.55 and 52-week low Rs 1,123.00 on 01 March, 2018 and 28 June, 2018, respectively.

Currently, it is trading 20.24 percent below its 52-week high and 10.84 percent above its 52-week low.
First Published on Feb 19, 2019 02:30 pm
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