The announcement was made before trading hours today, 23 December 2011.
Meanwhile, the BSE Sensex was up 51.97 points, or 0.33%, to 15,865.33.
On BSE, 13,590 shares were traded in the counter as against an average daily volume of 21,677 shares in the past one quarter.
The stock hit a high of Rs 619 and a low of Rs 589 so far during the day. The stock had hit a 52-week low of Rs 541.10 on Tuesday, 20 December 2011. The stock had hit a 52-week high of Rs 907.50 on 2 August 2011.
The stock had underperformed the market over the past one month until 22 December 2011, falling 6% compared with the Sensex's 1.57% decline. The scrip had also underperformed the market in past one quarter, sliding 28.32% as against 3.35% fall in the Sensex.
The large-cap power and automation company has an equity capital of Rs 42.38 crore. Face value per share is Rs 2.
The ultrahigh-voltage direct current transmission system (UHVDC) link will supply hydropower from mountainous northeast 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.
Northeast India has abundant hydropower resources scattered over a large area, while the load centers are often located thousands of kilometers away. India plans to create pooling points in the region to collect electricity generated from several hydropower stations and transport it across power superhighways to major urban load centers.
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.
The system will be the world's first multi-terminal ultrahigh-voltage link and will have three converter stations. Two sending stations will convert power from alternating current (AC) to DC for transmission over a single power line and deliver electricity to a third, receiving station in Agra where it will be converted back into AC for distribution to end users. The power link will pass through the so called chicken neck area; a very narrow patch of land (22 km wide x 18 km long) in the state of West Bengal, which borders Nepal and Bangladesh. Using ultrahigh-voltage transmission, helps to minimize losses and improve efficiency. The deployment of a multi-terminal solution as compared to running separate power links, brings considerable cost reductions.
ABB will execute the North-East Agra transmission project together with Bharat Heavy Electricals, a leading Indian government-owned power company that will deliver the remainder of the project worth more than $1.1 billion in total. The project will be executed on a turnkey basis including design, system engineering, supply, installation and commissioning and is scheduled to go in operation in 2015.
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. ABB is a world leader in HVDC transmission technology, with many pioneering achievements and over 70 HVDC projects around the world with a combined transmission capacity around 60,000 MW.
ABB's net profit jumped 92.5% to Rs 22.16 crore on 29.4% rise in net sales to Rs 1726.28 crore in Q3 September 2011 over Q3 September 2010.
ABB is a leader in power and automation technologies. The ABB Group of companies operates in around 100 countries and employs 1.30 lakh people.