This Jhunjhunwala’s multibagger small-cap stock's winning streak continues with new orders; makes 52-week high in today’s session!
The stock has witnessed significant buying activity as it has zoomed more than 330 per cent just in just 3 years
On Wednesday, shares of Va Tech Wabag surged more than 4.5 per cent to make a new 52-week high of Rs 503.20 apiece. The scrip witnessed massive spurt in volume.
On June 07, 2023, the company informed the exchange that it has successfully secured an order valued at approximately Rs 420 crore. The order pertains to the Design, Build, and Operation (DBO) of a Water Treatment Plant (VVTP) with a capacity of 270 Million Litres per Day (MLD) in Jite, Raigad, for the City and Industrial Development Corporation of Maharashtra Limited (CIDCO).
This significant project aims to address the future water requirements of Navi Mumbai. The proposed 270 MLD Water Treatment Plant will treat water sourced from the Hetwane dam and subsequently pump it to the existing Master Balancing Reservoir (MBR) located in Vihal for further distribution. The project scope encompasses design, engineering, supply, construction, installation, and commissioning of the 270 MLD water treatment plant, including a clear water pumping station, to be completed within 42 months from commencement.
Moreover, on March 31, 2023, the company announced that it further enhanced its leadership position in the global desalination market, by securing a Design, Build, Operate (DBO) order for the 400 million litres per day Sea Water Reverse Osmosis (SWRO) Desalination Project from Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) worth about Rs 4400 crore.
This project is a landmark project for Chennai and India since this project when completed, will be the Largest Desalination plant in the South East Asian Region. This project which is being funded by Japan International Cooperation Agency will enhance the water security for the city of Chennai through a stable source of drinking water in the form of desalination.
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Va Tech Wabag is a global leader in the water industry backed by rich experience spanning over 99 years. Being a pure-play water technology multinational, the company offers a complete range of technologies and services for total water solutions in both municipal and industrial sectors.
The stock has witnessed significant buying activity as it has zoomed more than 330 per cent just in just 3 years. Moreover, the stock has witnessed heavy buying in the past 1 year, surging more than 99 per cent. Keep a close eye on this trending stock.