Shares of Va Tech Wabag Ltd rose nearly 4% in early trade today after the water treatment firm said it secured a consortium design, build, operate repeat order towards 345 MLD Bejaoua Drinking Water Treatment Plant, worth about Rs 555 crore from Societe Nationale D'exploitation Et De Distribution Des Eaux (Sonede).
VA Tech Wabag stock climbed 3.75% to Rs 496.15 in the current session. Market cap of the firm climbed to Rs 3074 crore. A total of 3099 shares of the firm changed hands amounting to a turnover of Rs 15.31 crore on BSE. VA Tech Wabag stock has a one-year beta of 1.2, indicating high volatility during the period.
The stock hit a 52 week low of Rs 262.75 on November 11, 2022 and a 52 week high of Rs 544.80 on August 1, 2023.
In terms of technicals, the relative strength index (RSI) of VA Tech Wabag stands at 53.7, signaling it's trading neither in the overbought zone nor in the oversold zone. VA Tech Wabag shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.
“Va Tech Wabag, leading pure-play water technology Indian Multinational Group, strengthens its market leadership in Tunisia by securing a consortium Design, Build, Operate (`DB0') repeat order towards 345 MLD Bejaoua Drinking Water Treatment Plant, worth about 215 million Tunisian Dinars (approx. EUR 63 Million), from Societe Nationale D'exploitation Et De Distribution Des Eaux (SONEDE),” said the firm in a communication to bourses today.
French Development Agency (AFD) and European Investment Bank (BEI) will fund the project, which will be executed over thirty months followed by operation & maintenance of the plant for twelve months.
The project will be executed with Wabag as leader of the consortium and enterprise Gloulou Mohamed et Salem (EGMS), the consortium partner who will be responsible for all civil works of the project.
Commenting on the order win, Guhan Kandasamy, Head of Marketing - Africa said, "We thank SONEDE for their continued confidence in Wabag with this repeat order, which was won amidst strong international competition, giving us immense pride and happiness. Wabag with this large water treatment project continues its contribution to water security in the African continent. This plant which is one of the largest drinking water treatment plants in Wabag's profile, when completed will be an important reference project for us and will further enhance water security to the capital of Tunisia.”
VA Tech Wabag Limited is engaged in the water treatment field. The company's principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants. It provides solutions for drinking water treatment, industrial and process water treatment, water reclamation, sea and brackish water desalination, municipal waste water treatment, industrial waste water treatment and sludge treatment.
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