Va Tech Wabag, a leading water technology multinational, witnessed a significant rise in its share price, surging over 3% to reach a new 52-week high. Va Tech Wabag specializes in providing comprehensive water solutions for the Municipal and Industrial sectors.
The surge came after the company announced securing a lucrative contract worth Rs.420 crore from the City and Industrial Development Corporation of Maharashtra Ltd (Cidco). Va Tech Wabag’s stock experienced a boost of 3.38% in the early trading session, reaching a new 52-week high of Rs.495.90 per share on the BSE.
The company secured an order for the Design, Build, and Operation (DBO) of a Water Treatment Plant (VVTP) with a capacity of 270 Million Litres per Day (MLD) at Jite, Raigad. The contract, awarded by Cidco, involves various aspects such as Design, Engineering, Supply, Construction, Installation, and Commissioning of the 270 MLD WTP, along with a clear water pumping station.
The project is expected to be completed within 42 months from the commencement, followed by a 15-year period of Operation & Maintenance (O&M). At the time of writing, the shares of Va Tech Wabag were trading at Rs.497.50 apiece on the BSE, reflecting a 4% increase.
This significant contract win further strengthens Va Tech Wabag’s position in the water technology sector and highlights its expertise in delivering innovative solutions for water treatment projects.
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