ABB has moved higher by 2% at Rs 723 on winning order worth of Rs 175 crore from the state-owned power company NTPC Ltd to build two substations in Maharashtra.
The substations will facilitate transmission of electricity from new power generating plants being constructed in the region.
“Scope of the contract comprises design, engineering, supply, installation, commissioning and associated civil works for the substations. The project is scheduled for completion in 2016,” ABB said in a filing.
The 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, it added.
The stock opened at Rs 713 and hit a high of Rs 730 on the National Stock Exchange. A combined 12,929 shares have changed hands on the counter till early noon deals on both the exchanges.