VA Tech Wabag Shares Lose Early Gains, Down 0.75% After Saudi Water Authority Order
Shares of VA Tech Wabag Ltd fell 0.75% after touching a day’s high of Rs 1,307.20 on 29th December. This occurred despite the firm announcing that it has received a letter of award for a repeat ‘large’ order from the Saudi Water Authority. VA Tech Wabag has secured an EPC... The post VA Tech Wabag Shares Lose Early Gains, Down 0.75% After Saudi Water Authority Order appeared first on Equitypandit.
Shares of VA Tech Wabag Ltd fell 0.75% after touching a day’s high of Rs 1,307.20 on 29th December. This occurred despite the firm announcing that it has received a letter of award for a repeat ‘large’ order from the Saudi Water Authority.
VA Tech Wabag has secured an EPC contract to build a 50 million litres per day brackish water reverse osmosis (BWRO) plant at Aljouf, Saudi Arabia. The company said in an exchange filing that the project is classified as a “large” international order. It is valued between $30 million and $75 million and will be executed over 14 months.
The plant will treat raw water from borewell fields using advanced ceramic membrane pre-treatment. This will be followed by filtration and reverse osmosis to ensure a reliable and sustainable water supply. VA Tech Wabag has received a letter of award, with execution to begin upon contract signing.
Last week, the company was also named the preferred bidder for the Hadda ISTP project in Saudi Arabia.
At 10:28 AM, shares of VA Tech Wabag were trading 0.74% lower at Rs 1,276.50 on NSE.
Ready to invest like a pro? Tradz by EquityPandit equips you with 100+ Free tools and knowledge you need to succeed. Download the Tradz app and gain access to daily stock lists and insightful market analysis and much more!
The post VA Tech Wabag Shares Lose Early Gains, Down 0.75% After Saudi Water Authority Order appeared first on Equitypandit.
What's Your Reaction?
