ABB tanks after securing mega project from Power Grid

India Infoline News Service | Mumbai | January 11, 2017 16:47 IST

ABB will be enjoying a lion share in the project which is expected to be at Rs 4,350 crore. The prestigious project is expected to provide electricity to more than 80 million people.

ABB ended at Rs 1132.15, down by Rs 43.85 or 3.73% from its previous closing of Rs 1176 on the BSE.

ABB was in news for bagging a contract in consortium with BHEL of Rs 5,700 crore. ABB will be enjoying a lion share in the project which is expected to be at Rs 4,350 crore. The prestigious project is expected to provide electricity to more than 80 million people.

The project is considered to be important as it will connect Central India to Pugalur in Tamil Nadu. The completion of project is expected to be in 2019.

Stock view:-

ABB India Ltd ended at Rs 1132.15, down by Rs 43.85 or 3.73% from its previous closing of Rs 1176 on the BSE.

The scrip opened at Rs 1166.9 and touched a high and low of Rs 1169.95 and Rs 1102.5 respectively. A total of 437216(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 24920.42 crore.

The BSE group 'A' stock of face value Rs 2 touched a 52 week high of Rs 1432.7 on 11-Apr-2016 and a 52 week low of Rs 950 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 1199 and Rs 1029.55 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 16.87 % and 8.13 % respectively.

The stock traded above its 200 DMA.

***Note: This is a NSE Chart

 

Advertisements

  • FREE Demat A/c + Rs.2000 Cashback ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.