The stock of ABB India, the Indian subsidiary of Swiss engineering major ABB, shot up by 9.7% on Tuesday after the company reported the strongest quarterly order flow in five years during the three months to March 2017.
In the March 2017 quarter, which is the first quarter of its fiscal, ABB bagged orders worth Rs 2,342 crore. This takes the total order book size to Rs 12,023 crore, which gives revenue visibility for the next five-six quarters.
Half of the orders will to be executed in the short and medium terms while the remaining orders have a long duration of two-three years. The blend of short and long cycle orders helps in reducing the variation in the quarterly earnings.
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