 "VA Tech Wabag gains as JV bags Rs 1,500 crore order from Petronas")
VA Tech Wabag has rallied 6% to Rs 724 on the National Stock Exchange (NSE) in early morning trade after the company and its consortium partner Muhibbah Engineering (M) Bhd has bagged a contract worth Rs 1,500 crore from Malaysia's national oil and gas company Petronas (Petroliam Nasional Berhad).
The contract is for the design competition for Re-FEED and engineering, procurement, construction and commissioning of the Effluent Treatment Plant (ETP) for Petronas' Refinery and Petrochemicals Integrated Development (RAPID) project in Pengerang, Johor, Malaysia.
The contract was awarded by PRPC Utilities and Facilities Sdn, Bhd, a subsidiary of Petronas Group of companies, said a VA Tech Wabag release.
The stock hit a high of Rs 739 on the NSE in early morning trade. A combined around 25,000 shares changed hands on the counter on the NSE and BSE till 09:17 AM.
The contract is for the design competition for Re-FEED and engineering, procurement, construction and commissioning of the Effluent Treatment Plant (ETP) for Petronas' Refinery and Petrochemicals Integrated Development (RAPID) project in Pengerang, Johor, Malaysia.
The contract was awarded by PRPC Utilities and Facilities Sdn, Bhd, a subsidiary of Petronas Group of companies, said a VA Tech Wabag release.
The stock hit a high of Rs 739 on the NSE in early morning trade. A combined around 25,000 shares changed hands on the counter on the NSE and BSE till 09:17 AM.
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