VA Tech Wabag surges on securing order worth $100 million in Dubai
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VA Tech Wabag is currently trading at Rs. 340.80, up by 6.70 points or 2.01% from its previous closing of Rs. 334.10 on the BSE.
The scrip opened at Rs. 341.00 and has touched a high and low of Rs. 349.00 and Rs. 340.00 respectively. So far 60881 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. 183.20 on 28-Jan-2021.
Last one week high and low of the scrip stood at Rs. 349.00 and Rs. 313.50 respectively. The current market cap of the company is Rs. 2127.85 crore.
The promoters holding in the company stood at 21.70%, while Institutions and Non-Institutions held 20.84% and 57.46% respectively.
VA Tech Wabag has secured an order worth about $100 Million towards engineering and procurement activities in relation to 120 Million Gallons Per Day (MiGD) Hassyan Sea Water Reverse Osmosis (SWRO) in the United Arab Emirates (UAE). The order was secured from Green EPC (a Utico FZC subsidiary) who is the prime EPC contractor for this project.
Dubai Electricity and Water Authority (DEWA) selected Utico FZC as the preferred bidder to build the SWRO plant and operate it over a period of 35 years, under the Independent Water Producer (IWP) model, wherein DEWA will off-take 100% of water from this plant. The desalination plant is planned to be commissioned in phases by March 2024 and shall be the largest IWP in Dubai.
VA Tech Wabag is an India-based company engaged in the business of water treatment field.
