Va Tech Wabag gains after securing order

Va Tech Wabag rose 2.29% to Rs 609.30 at 10:35 IST on BSE after the company said it has secured order worth Rs 386 crore in Bengaluru.

The announcement was made after market hours yesterday, 26 July 2017.

Meanwhile, the S&P BSE Sensex was up 207.91 points, or 0.64% at 32,590.37. The S&P BSE Mid-Cap index was up 79.55 points or 0.52% at 15,419.31.

On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 24,008 shares in the past one quarter. The stock had hit a high of Rs 613.90 and a low of Rs 606.20 so far during the day. The stock had hit a 52-week high of Rs 749 on 21 June 2017 and a 52-week low of Rs 449.95 on 23 December 2016.

The stock had underperformed the market over the past one month till 26 July 2017, declining 14.95% compared with the Sensex's 4% rise. The scrip had also underperformed the market over the past one quarter declining 11.42% as against the Sensex's 7.46% rise. The scrip had also underperformed the market over the past one year advancing 2.94% as against the Sensex's 15.75% rise.

The mid-cap company has equity capital of Rs 10.92 crore. Face value per share is Rs 2.

Va Tech Wabag said that the company has won a Rs 386 crore order from Bangalore Water Supply and Sewerage Board (BWSSB) for a 150 MLD Sewage Treatment Plant (STP) at K&C Valley in Bengaluru. Post construction of the STP, WABAG will also operate and maintain for a period of 10 years.

Pankaj Sachdeva, CEO - India Cluster said, it is very heartening to win repeat orders and this repeat order from BWSSB is another feather in its cap showcasing the company technological prowess and the customer's confidence in the company, he said.

Va Tech Wabag's consolidated net sales rose 16.3% to Rs 75.73 crore on 33.3% increase in net sales to Rs 1131.74 crore in Q4 March 2017 over Q4 March 2016.

VA Tech Wabag is engaged in water treatment field. The company principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.

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