Rs 8,008 crore order book & FIIs increase stake: This multibagger Heavy Electrical Equipment company partners with Titagarh for metro projects!
Shares of the company gained more than 10 per cent in the last six months.
ABB and Titagarh Rail Systems have joined forces to supply propulsion systems for metro projects in India. This partnership aligns with the Indian government's "Make in India" and "Atmanirbhar Bharat" initiatives to promote self-reliance in manufacturing.
The partnership has already secured orders for equipment to be installed on metro coaches serving the state of Gujarat. It encompasses the transfer of technology and licensing, enabling Titagarh to manufacture ABB's traction converters, auxiliary converters, traction motors, and TCMS software.
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Recently, Tata Steel and ABB India have partnered to reduce the carbon footprint of steel production. ABB will provide automation, electrification, and digitization expertise, while Tata Steel will contribute its steelmaking knowledge. The companies will focus on system-level assessments to identify energy efficiency, decarbonization, and circularity options.
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.
In the recent quarter (Q2FY24), the revenue of the company stood at Rs 2751.19 crore which grew by 30.99 per cent YoY. The operating profit of the company stood at Rs 515.35 crore, while the PAT of the company stood at Rs 362.00 crore, which increased by 78.77 per cent YoY. As of Q2FY24, the company has an order book worth Rs 8,008 crores. Additionally, FIIs increased their stake in the company in September 2023.
The shares of the company have delivered multibagger returns of over 300 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.
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