Shares of ABB India Ltd surged 2% to hit a day’s high of Rs 5,294.50 on 29th October. This followed the firm’s announcement on Tuesday, 28th October. They launched new variable speed drive (VSD) modules at its Peenya factory in Bengaluru to expand local production.

ABB India said its local production capacity for drives has increased by about 25% after launching new variable speed drive (VSD) modules at its Bengaluru plant. VSDs help industries reduce power consumption by adjusting motor speed in response to real-time demand.

The new line will allow ABB to reduce delivery times by up to 40%. It will also produce customised, high-power drives for sectors such as buildings, data centres, water, cement, and metals.

AR Madhusudan, Business Line Manager for Drive Products at ABB India, said the focus on local manufacturing helps the company meet market needs faster and more reliably. This is supported by advanced automation.

He added that as ABB marks 20 years of drive production in India, the expansion highlights its commitment to strengthening local capabilities. It also promotes energy-efficient technologies.

The upgraded line also features integrated robotics to automate the production of a key component. This upgrade boosts the drives’ efficiency and reliability, while enabling faster large-scale production.

Tuomo Hoysniemi, Division President of Drive Products at ABB Motion, said the expansion reflects ABB’s focus on advancing local manufacturing and technology. This is in step with India’s growth goals.

In August, ABB India received an order worth Rs 173.55 crore from Siemens Gamesa Renewable Power Pvt Ltd in Chennai. The order is to manufacture and supply wind turbine converters.

At 11:43 AM, shares of ABB India were trading 2.17% higher at Rs 5,288 on NSE.

Ready to invest like a pro? Unicorn Signals app equips you with 100+ Free tools and knowledge you need to succeed. Download the Unicorn Signals app and gain access to daily stock lists and insightful market analysis and much more!