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ABB India inches up on getting NCLT’s nod for demerger of power grid business to APPSIL

ABB India is currently trading at Rs. 1443.25, up by 4.55 points or 0.32% from its previous closing of Rs. 1438.70 on the BSE.

The scrip opened at Rs. 1439.05 and has touched a high and low of Rs. 1449.25 and Rs. 1432.75 respectively. So far 1203 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1669.00 on 05-Jul-2019 and a 52 week low of Rs. 1209.95 on 28-Jan-2019.

Last one week high and low of the scrip stood at Rs. 1449.25 and Rs. 1405.00 respectively. The current market cap of the company is Rs. 30577.32 crore.

The promoters holding in the company stood at 75.00%, while Institutions and Non-Institutions held 15.59% and 9.41% respectively.

ABB India has received an approval from the Bengaluru Bench of the National Company Law Tribunal (NCLT) for the demerger of its power grids business to ABB Power Products and Systems India (APPSIL). The scheme will be effective upon filing the certified copy of order of NCLT with Registrar of Companies.

ABB India is a pioneering technology leader in electrification products, robotics and motion, industrial automation and power grids, serving customers in utilities, industry and transport & infrastructure globally.

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