VA Tech secures large repeat orders from Reliance Industries

10 Oct 2024 , 11:01 AM

VA Tech Wabag Ltd. shares, which have more than doubled investor wealth in 2024, started up to 4% higher on Thursday, October 10.

In a statement issued today, the Chennai-based desalination and water treatment solutions company said that it has received ‘significant’ repeat orders from Reliance Industries Ltd.

A ‘big’ order ranges in value from ₹300 to ₹500 Crore.

The instructions concern the water treatment systems of the Dahej and Nagothane plants.

WABAG’s excellent track-record with RIL for almost 3 decades and a technically superior & competitive bid ensured this repeat order win, reinforcing WABAG’s leadership in the Industrial water segment, according to the company’s filing.

RIL has been a key account for WABAG for nearly three decades. According to S Natrajan, Head-Sales & Marketing, India Cluster, this repeat order maintains WABAG’s position as RIL’s preferred supplier.

Natrajan stated that this order victory demonstrates WABAG’s continuous technological supremacy and leadership in water treatment and recycling for the oil, gas, and petrochemical industries.

At around 10.19 AM, VA Tech Wabag was trading 3.76% higher at ₹1,524.60 per piece, against the previous close of ₹1,469.35 on NSE. The counter touched an intraday high and low of ₹1,534.55, and ₹1,497.95, respectively.

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