VA Tech Wabag has soared 6% to Rs 545, extending its previous day’s 8% rally, after the company said that its consortium has bagged a major desalination contract In Oman
“The company in association with Cadagua (Spain) and Galfar (Oman) bagged a 192 MLD SWRO Desalination project in Al Gubrah, Muscat, Sultanate of Oman on a BOT (build-own operate) basis,” VA Tech Wabag said in a statement.
The project will be developed by a consortium of Malakoff International (Malaysia), Sumitomo Corporation (Japan), and Cadagua (Spain) at a cost of around $350 million (approx Rs 1,920 crore), it added.
The stock opened at Rs 518 and hit a 52-week high of Rs 549 on the BSE. A combined 55,911 shares have changed hands on the counter so far on both the exchanges.