ABB wins order worth Rs 270 crore from Indian Railways

ABB on Tuesday informed the bourses that it has won its largest traction equipment order in India worth Rs 270 crore for train technology from the Indian Railways. 

The order consists of supply of state-of-the-art converters for electric locomotives from Diesel Locomotive Works (DLW), in Varanasi. The company further informed that the converters are custom-designed for Indian Railways and will be manufactured at one of largest factories for locomotive applications in Nelamangala, near Bengaluru, in southern India. 

ABB’s traction solution is based on the latest technology to bring more reliable trains to passengers, while increasing sustainable transport use by moving from diesel trains to electric. This helps rail operators to achieve significant operational improvements. 

The stock of ABB in today’s trading session remained positive during the entire trading session. The stock which opened at Rs. 1233.15 went up nearly 1.7 per cent to touch intra-day high of Rs. 1253.20. The stock ended at Rs. 1241.90, up by almost 0.8 per cent from the previous close.