VA Tech Wabag shares jump 6% on securing repeat order win. Details here

Shares of VA Tech Wabag saw a sharp uptick in Monday's trade despite sluggishness in the domestic benchmarks. The stock surged 5.72 per cent to hit a day high of Rs 914.95. Today's rise in the share price came after the company announced that it has secured a repeat order of about $49 million from Kathmandu Upatyaka Khanepani Ltd (KUKL), funded by Asian Development Bank (ADB).

"The order entails Design, Build, Operate (DBO), towards three Waste Water Treatment Plants (WWTP) in Nepal at Sallaghari, Kodku and Dhobighat to treat about 69 MLD of Waste Water, and is expected to be completed over a period of 24 months, followed by a 5-year operation and maintenance (O&M)," it stated.

"These plants when complete, will reduce ingression of untreated Waste Water into the Bagmati, Manohara and Hanumante rivers, thereby restoring the water quality and improving the whole eco-system," VA Tech added.

As part of this project, Green Fuel (Biogas) will be generated through Activated Sludge Treatment, producing Green Energy which will be captively used in operation of the WWTPs, thereby reducing Green House Gas (GHG) emissions and optimising the cost of operations, the company further stated.

Commenting on the order win, Arvind Dullu, Regional Business Head – SAARC and South East Asia, said, "This repeat order is a testament to our unwavering commitment to excellence, sustainability and the trust that the customer has placed on our technical & execution expertise, for which we are extremely thankful. This order further strengthens WABAG's foothold in Nepal and the South Asian region."

On BSE, around 33,000 shares changed hands today at the time of writing this story. The figure was lower than the two-week average volume of 44,000 shares. Turnover on the counter came at Rs 2.92 crore, commanding a market capitalisation (m-cap) of Rs 5,613.62 crore.

There were 1,16,648 buy orders against sell orders of 9,620 shares. As of March 2024, promoters held a 19.13 per cent stake in the airline.