VA Tech Wabag receives order worth Rs520cr; stock jumps 4%

Post successful commissioning, Wabag will operate and maintain the plant for a period of 5 years.

Feb 14, 2019 06:02 IST India Infoline News Service

Stock up
Shares of VA Tech Wabag gained 4% on Thursday after the company received an order worth Rs520cr under Namami Gange from Jajmau Tannery Effluent Treatment Association.

The scope of this Design and Build contract includes engineering, supply, erection, construction, and commissioning of 20MLD Tertiary Treatment Plant over a period of 24 months, the company said in a press note to the exchanges on Thursday.

The scope also includes setting up of a chrome recovery unit, where the chrome recovered will be reused in the tanneries. "Post successful commissioning, WABAG will also operate and maintain the plant for a period of 5 years. The construction of this plant will be funded under the prestigious Namami Gange Scheme," the company added.

Va Tech Wabag Ltd's share price is currently at Rs299.20, up by Rs10.7 or 3.71%, from its previous close of Rs288.50 on the BSE.
The scrip opened at Rs288.35 and has touched a high and low of Rs302 and Rs288.35 respectively. So far 1,10,234 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs1,577.55cr.

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