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ABB India rises on securing automation contract from Reliance Life Sciences
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ABB India is currently trading at Rs. 4295.00, up by 18.95 points or 0.44% from its previous closing of Rs. 4276.05 on the BSE.
The scrip opened at Rs. 4303.95 and has touched a high and low of Rs. 4321.15 and Rs. 4251.00 respectively. So far 4852 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 4615.00 on 19-Jul-2023 and a 52 week low of Rs. 2640.45 on 26-Dec-2022.
Last one week high and low of the scrip stood at Rs. 4530.05 and Rs. 4251.00 respectively. The current market cap of the company is Rs. 90315.35 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 17.52% and 7.48% respectively.
ABB India has secured a major automation contract from Reliance Life Sciences (RLS), to automate their new manufacturing plants in Nashik, Maharashtra. RLS’ 160-acre facility at Nashik will house manufacturing plants for plasma proteins, biopharmaceuticals, oncology pharmaceuticals and vaccines. Large-scale biotechnology production presents distinct and complex process and automation challenges. These processes adhere to strict regulatory guidelines to ensure product quality and ABB’s System 800xA solution reduces manufacturing errors and ensures high-quality yields. It interfaces seamlessly with various skid systems and is used extensively for seamless operator interaction, batch control and production information on the factory floor.
System 800xA will be installed in a virtualized environment for RLS. Virtualization brings many cost and operational benefits by simplifying how servers are managed and maintained. It significantly reduces the IT footprint and thus resultant operational costs. ABB’s multichannel remote I/O solutions will enable streamlined data communication, reduce wiring, declutter the hardware footprint in the plant and improve space utilization and faster project execution.
ABB India is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future.
