VA Tech Wabag shares gain 9% on $100-mn equity partnership for municipal projects 

Shares of Va Tech Wabag Ltd rose nearly 9% today after the water treatment firm said it has inked a non-binding term sheet for a dedicated platform (Municipal Platform) to focus on the development of Capital Projects for the Municipal Sector. The Municipal Platform will commit equity investment of up to $100 Million in capital projects over three to five years.

VA Tech Wabag stock climbed 8.84% to Rs 1510 in the current session. Market cap of the firm climbed to Rs 9283 crore. A total of 0.85 lakh shares of the firm changed hands amounting to a turnover of Rs 12.48 crore on BSE. VA Tech Wabag stock has a one-year beta of 1.3, indicating very high volatility during the period.

The stock hit a 52 week low of Rs 288.55 on November 11, 2022 and a 52 week high of Rs 1943.95 on December 9, 2024.

In terms of technicals, the relative strength index (RSI) of VA Tech Wabag stands at 52, 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, 30 day, 50 day, 200 day but lower than 100 day, and 150 day moving averages.

The Municipal Platform will be established in collaboration with an Investor Consortium including Norfund and two other international investors, Norfund is the Norwegian Government’s investment fund dedicated to supporting sustainable development.

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