ABB India win orders worth Rs 191 crore

ABB India announced that it has bagged two significant orders, one to supply traction equipment for Chittaranjan Locomotive Works (CLW), the manufacturing unit of the Indian Railways and another to supply industrial drives to Megha Engineering and Infrastructures Limited (MEIL) in their oil drilling segment. The said orders are worth Rs 123 crore and Rs 68 crore, respectively.

In-line with the company's commitment to 'Make in India' initiative, the components of both the orders are to be produced at ABB's Nelamangala facility in Bengaluru (Karnataka). The facility houses one of the largest factories for locomotive applications and one of the four global shop-floors for medium voltage drives located in Southern India.

Speaking on the announcement, Sanjeev Sharma, Managing Director of ABB India stated that the company strove to drive sustainable and meaningful progress for the future and was privileged to continue contributing towards sustainable transportation for electrification of the Indian rail network.

ABB India Limited is engaged in the power and automation business. Its products include flameproof motors and frequency controlled motors.

At 12 pm on Wednesday, the stock was trading at Rs 1,319, down by 1.12 per cent or Rs 14.95 per share. The 52-week high is recorded at Rs 1,467.05 and the 52-week low is Rs 1,073.70 on BSE.