 "VA Tech Wabag hits record high")
Shares of VA Tech Wabag have moved higher by 7% to Rs 1,824, also its record high on National Stock Exchange (NSE).
Since February 9, the stock has outperformed the market by surging 24% after its board approved the issue of bonus shares in the ratio of 1:1 (one equity share for every one equity share of Rs 2 held in the company) by capitalizing the securities premium reserve account of the company. The CNX Nifty gained 3.8% during the same period.
The company said it has order book of Rs 6,973 crore including framework contracts of Rs 1,687 crore as on December 31, 2014.
VA Tech Wabag is a multinational player in the water treatment industry. The company offers complete life cycle solutions including conceptualization, design, engineering, procurement, supply, installation, construction and O&M services.
Since February 9, the stock has outperformed the market by surging 24% after its board approved the issue of bonus shares in the ratio of 1:1 (one equity share for every one equity share of Rs 2 held in the company) by capitalizing the securities premium reserve account of the company. The CNX Nifty gained 3.8% during the same period.
The company said it has order book of Rs 6,973 crore including framework contracts of Rs 1,687 crore as on December 31, 2014.
VA Tech Wabag is a multinational player in the water treatment industry. The company offers complete life cycle solutions including conceptualization, design, engineering, procurement, supply, installation, construction and O&M services.