ABB's stock up 13% on Rs 4,350 crore deal from Power Grid

The contract is for building the world's largest power transmission link for PGCIL

Power automation firm ABB India saw its stock rise 12.98 per cent to close at Rs 1,175 after investors bought the stock following its Rs 4,350-crore win to build the world's largest power transmission link for Power Grid Corporation of India Ltd.

ABB won a major chunk of the Rs 5,700-crore contract from Power Grid, to lay 1,800 km of high voltage power lines from Raigarh, the capital of Chattisgarh to Pugalur in Karur district of Tamil Nadu. State-run Bharat Heavy Electricals Ltd bagged the remaining value of the deal, a statement said.

With a capacity of 6,000 megawatts, the two-way link