ABB jumps on completing melt shop digitalization project with India’s leading steel company
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ABB India is currently trading at Rs. 1800.00, up by 60.20 points or 3.46% from its previous closing of Rs. 1739.80 on the BSE.
The scrip opened at Rs. 1764.50 and has touched a high and low of Rs. 1850.00 and Rs. 1736.85 respectively. So far 54277 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1,850.00 on 23-Jun-2021 and a 52 week low of Rs. 832.00 on 23-Jun-2020.
Last one week high and low of the scrip stood at Rs. 1,850.00 and Rs. 1658.85 respectively. The current market cap of the company is Rs. 38531.30 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 11.09% and 13.91% respectively.
ABB has built on a long-term relationship with JSW Steel, India’s leading steel company, by integrating its digital solution ABB Ability Smart Melt Shop into a wider expansion at Dolvi Works plant in Maharashtra state.
With the project, completed on schedule in March 2021, ABB has improved productivity and energy efficiency for the steel melt shop by developing an operations optimization solution, including ladle and crane tracking system, crane scheduling system and thermal loss models, to predict target temperature for ladle furnaces and ensure the correct superheat at the caster. This is expected to increase the company’s EBITDA profit by around USD two million per annum through four percent higher casting speeds, time savings of one working day per month and additional output equating to 24,000 tonnes a year.
ABB is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future.stock market
