Shares of water treatment firm VA Tech Wabag surged by nearly 6 per cent today after the company bagged a Rs 594 crore contract to construct and operate a plant in Chennai.
The company's stock advanced by 5.72 per cent to settle at Rs 465.75 on BSE. Intra-day, it zoomed 8.5 per cent to Rs 478.
On NSE, shares of the company soared 5.93 per cent to close at Rs 466.85.
On the volume front, 1.32 lakh shares of the company changed hands at BSE and over 10 lakh shares were traded at NSE during the day.
In a BSE filing, VA Tech Wabag said it has "won a Rs 594 crore contract from Chennai Metropolitan Water Supply and Sewerage Board for construction and operation and maintenance (O&M) for a 45 million litres per day (MLD) Tertiary treatment plant at Koyambedu, Chennai."
It further said: "The value of EPC and O&M portion (for a period of 15 years) of the contract is Rs 396 crore and Rs 198 crore, respectively.
