 "VA Tech Wabag hits record high after receiving order worth Rs 1,000 cr")
Shares of VA Tech Wabag reached their all time high at Rs 1,743.85 a piece on the BSE, rising 4.3 per cent in Tuesday’s intraday deals. The stock price jumped after the company on Tuesday announced an order win worth Rs 1,000 crore.
The company won a mega order of Rs 1,000 crore towards a 100 million litres per day (MLD) sea water desalination plant from Indosol Solar for their Solar PV manufacturing facility.
“This order includes the Engineering Procurement (EP) scope of design, engineering, supply, Installation, Testing and Commissioning of the 100 MLD Desalination Plant which will be executed over a 38-month period, followed by a 15 years Operation and Maintenance (O&M) contract. This plant will be built with the state-of-the-art Desalination technologies, designed for superior energy efficiency and production of water to meet the requirements of the 10 GW integrated Solar PV manufacturing unit of Indosol Solar in Andhra Pradesh,” the company said.
Saravanan Krishnan, Head – Desalination, India Cluster said that this mega order marks Wabag’s entry into the Solar PV sector which is a key segment for the future.
According to analysts, Va Tech Wabag is presently riding the wave of sustainable growth with its strategic focus on water conservation, optimisation, and recycling, supported by over 125 IP rights and dedicated R&D centres.
According to analysts, Va Tech Wabag is presently riding the wave of sustainable growth with its strategic focus on water conservation, optimisation, and recycling, supported by over 125 IP rights and dedicated R&D centres.
“The company’s robust global footprint, spanning four continents with over 6,500 successfully executed projects, positions it as a key player in the burgeoning green and ESG-themed investment landscape,” analysts at Axis Securities had said in a report. This makes VTW a compelling investment in today's market, analysts added.
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Wabag is a leader in the water industry with a century of experience in water leadership and sustainability. As a dedicated water technology multinational, Wabag provides comprehensive Total Water Solutions for both municipal and industrial sectors. With a team of over 1,600 professionals in more than 25 countries, the company impacts millions of lives daily.
Over the past three decades, Wabag has constructed over 1,400 water and wastewater plants worldwide, offering customised solutions tailored to its clients’ needs. Wabag serves as a full life-cycle partner, handling design, engineering, supply, construction, installation, startup, and long-term operational management.
VA Tech Wabag share price history
VA Tech Wabag stock has outperformed the market year to date as it has risen 164 per cent, while gaining 281.5 per cent in the last one year. In comparison BSE Sensex has risen 13.3 per cent year to date and 23.5 per cent in a year.
The company has a total market capitalisation of Rs 10,510.18 crore. Its shares are trading at a price to earnings multiple of 43.49 times at an earning per share of Rs 38.41.
At 10:58 AM, the stock price of the company gave up most of its gains and advanced by 1.06 per cent at Rs 1688.20 a piece on the BSE. By comparison, the BSE’s Sensex was down 0.16 per cent to 81,839.93 level.