ABB India rises on inking MoU with Steel Authority of India
ABB India is currently trading at Rs. 5938.35, up by 51.40 points or 0.87% from its previous closing of Rs. 5886.95 on the BSE.
The scrip opened at Rs. 5881.50 and has touched a high and low of Rs. 5956.00 and Rs. 5830.00 respectively. So far 9889 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 9200.00 on 18-Jun-2024 and a 52 week low of Rs. 4590.05 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 5956.00 and Rs. 5705.15 respectively. The current market cap of the company is Rs. 125872.52 crore.
The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 17.30% and 7.70% respectively.
ABB India and Steel Authority of India (SAIL) have signed a Memorandum of Understanding (MoU) to digitally optimize ironmaking and steelmaking processes at the Rourkela Steel Plant in Odisha state, India. SAIL’s plant will exchange data with ABB India to prepare data-based models to create digital twins of blast furnaces and basic oxygen furnaces of steel melt shop areas.
The collaboration comes at a time of growing challenges within the steel industry, including the need to meet stricter environmental regulations, reduce operational costs, and maintain competitive advantages in a rapidly evolving market. Rourkela Steel Plant produced 4.08 million tons of saleable steel products in FY 2024-25 and SAIL plans to grow output to about 9 million tons by 2030 to meet escalating market demands. It has ambitions to attain the highest levels of operational efficiency and sustainability using digital transformation.
The plant will harness ABB’s expertise in automation and digitalization, including mathematical and data-based models, to optimize processes in both ironmaking and steelmaking. The goal is to deliver actionable insights and enable data-driven decisions to support optimal operations, paving the way for a more sustainable and cost-effective future in steel production.
ABB India is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future.
