 "VA Tech Wabag gains as consortium wins order worth Rs 594 crore")
VA Tech Wabag has rallied 5% to Rs 462 on the BSE in early morning trade after the company said the company in consortium with IDE Technologies has won an Rs 594 crore contract from Chennai Metropolitan Water Supply and Sewerage Board, Chennai for construction and operation & maintenance (O&M) of a 45 MLD tertiary treatment plant at Koyambedue, Chennai.
“The value of the EPC and O&M portion (for a period of 15 years) of the contract is Rs 396 crore and Rs 198 crore respectively. The consortium will be responsible for execution of the complete plant and transmission pipeline where Wabag would act as the leader,” VA Tech Wabag said in a statement.
At 09:23 am, the stock was up 3.5% at Rs 457 on the BSE as compared to 0.16% decline in the S&P BSE Sensex. A combined 90,170 shares changed hands on the counter on the BSE and NSE so far.
“The value of the EPC and O&M portion (for a period of 15 years) of the contract is Rs 396 crore and Rs 198 crore respectively. The consortium will be responsible for execution of the complete plant and transmission pipeline where Wabag would act as the leader,” VA Tech Wabag said in a statement.
At 09:23 am, the stock was up 3.5% at Rs 457 on the BSE as compared to 0.16% decline in the S&P BSE Sensex. A combined 90,170 shares changed hands on the counter on the BSE and NSE so far.
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