ABB India spurts on partnering with Indore Smart City Development to deploy next-generation digital technology
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ABB India is currently trading at Rs. 2110.35, up by 44.00 points or 2.13% from its previous closing of Rs. 2066.35 on the BSE.
The scrip opened at Rs. 2060.00 and has touched a high and low of Rs. 2118.30 and Rs. 2060.00 respectively. So far 7139 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2232.90 on 12-Nov-2021 and a 52 week low of Rs. 1145.50 on 10-Dec-2020.
Last one week high and low of the scrip stood at Rs. 2130.00 and Rs. 1997.30 respectively. The current market cap of the company is Rs. 44577.05 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 10.45% and 14.55% respectively.
ABB India has partnered with Indore Smart City Development (ISCDL) to deploy next-generation digital technology that enables the continuous supply of electricity to homes and businesses. In the first phase of the collaboration, this technology has enabled more than 2300 connections to achieve 24/7 electricity supply with an efficient automatic response system (ARS) in case of power outages or disruption. ABB and ISCDL now plan to replicate the same model in other areas of the city and position Indore as the model for smart city projects across India.
Indore is the largest city in Madhya Pradesh and home to over three million people and several key industries in the state. Indore is also part of the Central Government’s mission to develop 100 smart cities across the country. One of the key parameters of a smart city is the 24/7 supply of electricity to enable digital transformation and the supply of key services to citizens. Indore has set its target to boost the smart city development in sync with its ‘swachh’ identity in the world. ABB’s Compact Secondary Substations (CSS) used in the project reduces downtime by providing steady and reliable power supply through digitally enabled SCADA solutions.
ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future.
