Powerful Partnership: ABB and Titagarh Rail Systems Collaborate for Metro Projects in India”
In a significant development, ABB and Titagarh Rail Systems have joined forces to provide cutting-edge propulsion systems for metro projects in India. This strategic alliance perfectly aligns with the Indian government’s ambitious “Make in India” and “Atmanirbhar Bharat” initiatives, aimed at fostering self-reliance in the manufacturing sector.
Tech Transfer Triumph: ABB Enables Titagarh to Manufacture Key Components for Gujarat Metro Coaches”
Already securing orders for metro coaches servicing Gujarat, the ABB-Titagarh partnership involves the transfer of technology and licensing. This collaboration empowers Titagarh to manufacture ABB’s vital components, including traction converters, auxiliary converters, traction motors, and TCMS software.
Tata Steel and ABB India Forge Alliance to Green Steel Production”
In another noteworthy collaboration, Tata Steel and ABB India have teamed up to tackle the carbon footprint in steel production. ABB’s expertise in automation, electrification, and digitization complements Tata Steel’s profound knowledge in steelmaking. The focus of this partnership is on system-level assessments to identify energy efficiency, decarbonization, and circularity options.
ABB India’s Robust Q2FY24 Performance Reflects Growing Revenue and Stakeholder Confidence”
In the recent quarter (Q2FY24), ABB India Limited showcased impressive financial results. With a revenue of Rs 2751.19 crore, marking a robust 30.99% YoY growth, the company demonstrated strong operational performance. The operating profit stood at Rs 515.35 crore, and the PAT reached Rs 362.00 crore, witnessing a substantial 78.77% YoY increase. Additionally, as of Q2FY24, the company boasts an order book worth Rs 8,008 crores, and foreign institutional investors have increased their stake in the company in September 2023.
Investor Alert: ABB India’s Shares Deliver Over 300% Returns in Three Years”
With multibagger returns exceeding 300% in the last three years, ABB India’s shares have become a focal point for investors. The company’s consistent growth, coupled with its expanding order book and increased stake by foreign investors, positions it as a stock worth monitoring closely.