VA Tech Wabag jumps after order win

VA Tech Wabag rose 3.29% to Rs 298 at 12:26 IST on BSE after the company said it secured order worth Rs 520 crore from Jajmau Tannery Effluent Treatment Association. The announcement was made during trading hours today, 14 February 2019.

Meanwhile, the S&P BSE Sensex was 110.99 points, or 0.31% to 35,932.12.

On the BSE, 16,000 shares were traded in the counter so far compared with average daily volumes of 30,000 shares in the past one quarter. The stock had hit a high of Rs 302 and a low of Rs 288.35 so far during the day. The stock hit a 52-week high of Rs 579 on 14 February 2018. The stock hit a 52-week low of Rs 243.45 on 11 December 2018.

The scope of the contract includes engineering, supply, erection, construction and commissioning of 20 MLD Tertiary Treatment Plant over a period of 24 months, the statement said.

On a consolidated basis, net profit of Va Tech Wabag declined 48.70% to Rs 15.42 crore on 23.45% decline in net sales to Rs 661.90 crore in Q3 December 2018 over Q3 December 2017.

VA Tech Wabag is a pure play water technology company. It provides planning, installation and operation of drinking and wastewater plants for local government and industry in the growth markets of Asia, North Africa, Middle East, the Central and Eastern Europe.

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