Hitendra Vasudeo of stockmechanics.com has recommended a buy call on ABB Limited with a short term target that lies between Rs 789.30-833.30.

In latest report, Mr. Vasudeo said that ABB is clearly a buy, so investors can accumulate the stock around Rs 764.70-Rs 745.30.

In addition, the firm has suggested a support level for the scrip at Rs 736.

Today, the shares of the company opened at Rs 785 on BSE. Current EPS & P/E ratio stood at 23.98 and 31.94 respectively. The share price has seen a 52-week high of Rs 995 and a low of Rs 344 on BSE.

The leading power and automation technology group ABB has pocketed an order worth $223 million from the Algerian oil and gas company Sonatrach, for three gas plants in Algeria.

Scheduled for completion by the first quarter of 2012, the scope of order consists of new compressor trains, re-instrumentation of subsisting gas treatment plants and an integrated control system for both the novel as well as subsisting plants.

The company will also deliver related automation equipment, as well as medium- and low-voltage switchgear and transformers to the plants.

Veli-Matti Reinikkala, head of ABB’s Process Automation division stated, “ABB has delivered a number of projects for Sonatrach and our reputation for quality and reliability helped us to win this important order. The modernization of these installations will help to reduce both the cost and environmental impact of our customer’s operations.”

Besides the environmental benefits, regaining the currently flared gas will perk up production competence and lessen operating costs.

ABB will be responsible for the engineering, procurement and commissioning of the project, while building works will be carried out by Sarpi, a joint-venture company possessed by Sonatrach and ABB.

ABB is a leader in power and automation technologies that enable utility and industry clients’ to amend performance while lowering environmental impact.

The ABB Group of companies runs in around 100 nations and employs over 120,000 people.