VA Tech Wabag hits 5% upper circuit on Rs 90 crore order win from Bahrain

In another news, rating agency ICRA on Tuesday revised the long-term fund-based facilities of the company to [ICRA]A(Negative) from [ICRA]A+(Negative)

VA Tech Wabag shares were locked in the 5 per cent upper circuit band of Rs 81.90 apiece on the BSE on Wednesday, a day after the company secured a five-year Operation & Maintenance (O&M) contract in Al Madina Al Shamaliya (AMAS) Sewage Treatment Plant in Kingdom of Bahrain. 

The company in its press release said that it secured 4.5 Million Bahraini Dinar (approx. Rs 900 million) order from Ministry of Works, Municipalities Affairs and Urban Planning (‘MoW’) in Kingdom of Bahrain towards Operation, Maintenance and Management of the Madinat Salman Sewage Treatment Plant (‘STP’) and Long Sea Outfall for