VA Tech Wabag jumps on securing EP order for 18 million euros
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VA Tech Wabag is currently trading at Rs. 253.65, up by 6.25 points or 2.53% from its previous closing of Rs. 247.40 on the BSE.
The scrip opened at Rs. 253.95 and has touched a high and low of Rs. 257.50 and Rs. 249.20 respectively. So far 34391 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 404.25 on 03-Aug-2021 and a 52 week low of Rs. 223.65 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 257.50 and Rs. 223.65 respectively. The current market cap of the company is Rs. 1585.54 crore.
The promoters holding in the company stood at 21.70%, while Institutions and Non-Institutions held 19.79% and 58.51% respectively.
VA Tech Wabag has secured an Engineering and Procurement (EP) order worth about 18 million euros (about Rs 149 crore) from DL E&C CO, Korea, towards a water treatment package for the EuroChem Methanol Production facility in Kingisepp, Russia.
The company’s scope includes Design, Engineering and Supply, Installation, PreCommissioning, Commissioning and start-up of the plant and is scheduled to be completed over a 15 month period. The project will employ softening, Ultrafiltration and Reverse Osmosis technologies to treat brine water which will be reused as process water in the facility. This order includes adequate payment securities which de-risks the company from the geo political uncertainties.
VA Tech Wabag is an India-based company engaged in the business of water treatment field.
