Va Tech Wabag hits 52-week high on order win worth Rs 420 crore

The share price touched a 52-week high of Rs 493.95.

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Va Tech Wabag share price gained 3 percent in early trade on June 7 as company secured an order worth Rs 420 crore. The share price touched a 52-week high of Rs 493.95.

Va Tech Wabag has secured an order for the design, build, and operation (DBO) of a water treatment plant (VVTP) with a capacity of 270 million litres per day (MLD) at Jite, Raigad for the City and Industrial Development Corporation of Maharashtra Limited (CIDCO).

Project scope

This project has been planned in order to cater to the future water demand for Navi Mumbai. Water from Hetwane dam will be treated at the proposed 270 MLD WTP and pumped to the existing Master Balancing Reservoir (MBR) at Vihal location for further distribution, the company said.

The scope of the project includes design, engineering, supply, construction, installation, and commissioning of WTP including clear water pumping station within a period of 42 months from the commencement, and followed by operation & maintenance (O&M) for a period of 15 years.

The company said the plant will use high rate clarifiers for the removal of high-suspended solids followed by rapid gravity sand filters along with disinfection by chlorine.

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“This is an important and strategic success for us, as we foray back into the DBO space in Maharashtra with this breakthrough order in CIDCO. This project was won against tough competition based on our technical superiority and competitiveness and we are thankful to our client for the confidence they have reposed in us. This project once completed will address the growing water need of the area and also be a key reference in our journey,” said Shailesh Kumar, CEO — India Cluster.

At 09:22 hrs Va Tech Wabag was quoting at Rs 491.45, up Rs 11.80, or 2.46 percent on the BSE.