Shares of this company rises after automating the first cross-border oil pipeline between India and Bangladesh

Shares of this company rises after automating the first cross-border oil pipeline between India and Bangladesh

by 5paisa Research Team Last Updated: Mar 29, 2023 - 06:52 pm 628 Views
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To ensure the safe, secure, and dependable operation of the 130-kilometre Indo-Bangla Friendship Pipeline (IBFPL), which will transport diesel from India to Bangladesh.

About the Project  

ABB India has provided comprehensive automation and control systems for the 130-kilometre Indo-Bangla Friendship Pipeline (IBFPL), which will carry one million metric tons per year (MMTPA) of diesel between India and Bangladesh. It will allow Bangladesh to produce significant amounts of electricity to meet its rising domestic demand.

The Numaligarh Refinery (NRL) will be able to remotely monitor and control crucial pipeline parameters, such as flow, pressure, and temperature, as well as detect leaks, thanks to ABB Ability SCADAvantage, Remote Terminal Units (RTUs), and leak detection system. By producing reports, history sheets, crucial warnings, and alarms, ABB solutions will provide real-time data on the functioning of the pipeline network, maximizing efficiency and safety.  

The diesel will be delivered from NRL's Siliguri marketing terminal to the Parbatipur oil depot of the Bangladesh Petroleum Corporation. The pipeline, the first of its kind between the two nations, will be located in Bangladeshi territory for the majority of its length and within India's borders for about 6 kilometres. 

Leading global technology corporation ABB India drives social and industrial change for a more prosperous and sustainable future. 

Stock price movement  

ABB India's share price is currently Rs. 3354.35, up 13.65 points or 0.41% from when it last closed on the BSE at Rs. 3340.70.  

The stock price achieved a high of Rs. 3360 and a low of Rs. 3324.10 since it opened at Rs 3324.10.  

A 52-week high of Rs 3445.65 was reached on September 2, 2022, and a 52-week low of Rs 1944.60 was reached on March 28, 2022, for the BSE group "A" stock with a face value of Rs 2. 

75% of the company's shares were held by the promoters, while institutions and non-institutions held 17.28% and 7.72%, respectively.  

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