Kanpur Metro deploys ABB India's electrification solutions, stock gains 2 %

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Shares of ABB India were up 2 percent intraday on June 19 after the company said Kanpur Metro has deployed its electrification solutions.

At 12:05 pm, shares of the company were trading at Rs 4365.55, up 0.7 percent.

The capital goods-heavy electricals major has been contributing to Indian Metro systems by proving electrification solutions to 13 metro rail projects across India, ABB India said in a press release.

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ABB shares have doubled over the last year, and have risen 30 percent in the last three months along.

In Q4FY23, the company reported a revenue of Rs. 2411 crore, which was up by 22.1 percent Year-on-Year (YoY). The company debt reported is minimal and has managed to maintain a healthy dividend payout of 27 percent. In the latest investor presentation, it has reported a strong deal pipeline with orders up by 36 percent with operational EBITA margin up 11.4 percent.

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