The announcement was made after market hours on Monday, 21 May 2012.
Meanwhile, the BSE Sensex was up 135.51 points, or 0.84%, to 16,318.77.
On BSE, 350 shares were traded in the counter as against an average daily volume of 14,843 shares in the past one quarter.
The stock hit a high of Rs 718.95 and a low of Rs 716 so far during the day. The stock had hit a 52-week high of Rs 915 on 17 February 2012. The stock had hit a 52-week low of Rs 541.10 on 20 December 2011.
The large-cap company has an equity capital of Rs 42.38 crore. Face value per share is Rs 2.
ABB said the substations will facilitate transmission of electricity from new power generation plants being constructed in the region.
"These substations will help make more power available to meet growing demand for electricity in the region and will improve the reliability and efficiency of the transmission grid. ABB has been partnering India by bringing in latest power technologies to meet the growing demand and help sustain economic growth. The substations we are supplying will be equipped with the latest IEC 61850 substation automation system to facilitate open communication between the numerous control and protection devices within the substation and beyond.? said N Venu, Local Division Manager and Head of Power Systems division in India.
The company said that substations will include seventeen 400 kilovolt (kV) bays and fourteen 132 kV bays in Solapur, and twelve 400kV bays and eight 132kV bays in Mauda. ABB`s turnkey project scope comprises the design, engineering, supply, installation, commissioning and associated civil works for the substations. The project is scheduled for completion in 2016.
ABB`s net profit fell 20% to Rs 47.64 crore on 0.5% decline in net sales to Rs 1773.04 crore in Q1 March 2012 over Q1 March 2011. The company announced the results on 9 May 2012.
ABB said it received orders worth Rs 1632 crore in Q1 March 2012, compared with an order intake of Rs 1695 crore in Q1 March 2011. While the businesses relating to power sector continued to grow, those dependent on systems business from the industry were impacted due to poor market sentiments primarily driven by over capacities and high cost of capital, the company said while announcing results.
The company`s order backlog stood at Rs 9028 crore at the end of March 2012 as against Rs 8329 crore for the corresponding period in 2011. With this strong order backlog, the revenues of the company for the coming quarters remain secured, ABB said.
ABB`s management said at the time of announcement of Q1 March 2012 results that the company continues to maintain a positive outlook for the future as the company moves forward with its investment plans for new manufacturing lines, enhance existing capacities, and introduce new products and solutions through use of best in class engineering and R&D
ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in around 100 countries.
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