Rs 7,727 crore order book and 350 per cent returns: This multibagger Heavy Electrical Equipment company partners with Tata Steel!

Shares of the company gained more than 30 per cent in the last six months.

Tata Steel, a leading global steel company, and ABB India, a global technology leader, have signed a memorandum of understanding (MoU) to co-create innovative models and technologies to help reduce the carbon footprint of steel production.

ABB will bring its global experience in automation, electrification, and digitization to the partnership, while Tata Steel will contribute its expertise in steelmaking. The two companies will focus on system-level assessments of Tata Steel's manufacturing plants and production facilities to identify and develop short- and long-term options for energy efficiency, decarbonization, and circularity.

Earlier, ABB India Limited bagged an order from Reliance Life Sciences to deploy automation and control solutions for their new biosimilars and plasma proteins manufacturing facilities in Nashik, Maharashtra.

ABB India Limited is an integrated power equipment manufacturer supplying a complete range of engineering, products, solutions and services in areas of Automation and Power technology.

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In the recent quarter (Q1FY24), the revenue of the company stood at Rs 2491.35 crore which grew by 22.35 per cent YoY. The operating profit of the company stood at Rs 423.75 crore, while the PAT of the company stood at Rs 295.81 crore, which decreased by 101.15 per cent YoY. As of Q1FY24, the company has an order book worth Rs 7,727 crores.

The shares of the company have delivered multibagger returns of over 390 per cent in the last three years and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.