Va Tech Wabag has moved up 7% at Rs 509 after stock turned ex-stock split today. The company has fixed August 17, 2011 as the record date for the purpose of sub-division of Rs 5 per share of the company into the shares of Rs 2 each.
Meanwhile, the company has cut its losses to Rs 4.2 crore during the first quarter ended June 30, 2011 compared to Rs 5.4 crore in the corresponding quarter of previous fiscal.
"The firm consolidated order book stands at Rs 3,333 crore, of this 73% is related to India and 27% related to the company’s overseas subsidiaries. In addition to the firm order book, the company has framework contracts of Rs 1,136 crore," the company said in a filing to the stock exchanges.
The stock hit a high of Rs 530 after opening at Rs 509 on the National Stock Exchange (NSE). A combined 3,567 shares have changed hands on the counter till 1041 hours.
