This smallcap company receives Rs 4400 crore worth order. Do you own it?
In the past 6 months, the company has shown positive traction as it surged more than 42 per cent
On Friday, shares of Va Tech Wabag zoomed more than 8.5 per cent to make an intraday high of Rs 366.05 apiece. The scrip witnessed massive spurt in volume by more than 1.25 times
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 for 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.
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.
In the past 6 months, the company has shown positive traction as it surged more than 42 per cent. In the past month itself, the company’s shares surged more than 18 per cent. Keep a close eye on this trending stock.