/ ABB India Over 2% Over Talks Of Buying Out L&T’s Electrical Business ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 21 June 2017

ABB India surged over 2% at Rs 1,532.00 per share on BSE during pre-lunch hours of Wednesday’s trade.

ABB Group is in talks with L&T to acquire its electrical and automation division which generated revenues of Rs 4,650 crore in 2016-17 and is expected to be valued at Rs 14,000-18,000 crore, reported a national news daily.

ABB Group commands 75% stake in ABB India its listed arm, which will enable to strengthen its position in India.  The market cap of ABB Group stands at USD 57 billion and revenues of USD 35.5 billion.

The stock on NSE attracted a traded volume of 1,08,062 shares and a traded value of Rs 1663.97 lakh on Wednesday’s intraday trade.

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