Wabag bags Rs. 1,000 crore order in Saudi
The company has secured a major EPC order from a power and water utility company in the Kingdom of Saudi Arabia. The stock was up more than 6 per cent in early morning trade on Thursday.
The order is from Marafiq, which is a private integrated utility company, providing power and water services in the industrial cities of Jubail and Yanbu, in Saudi Arabia. The scope of the order includes offering engineering, design and build contract for the expansion of sewage water treatment plant in Jubail. The plant will deploy activated sludge process for removal of carbon and nitrogen from the sewage water to make it fit for irrigation. Marafiq has plans to expand the plant and this order is for Phase 1, which has a capacity of 120 MLD.
At 9:54 hours, the stock of Va Tech Wabag Limited was trading at Rs. 266.55 per share, up by Rs. 15.30 or 6.09 per cent on Thursday. The benchmark index was at 34,408.07, down by 33.98 points or 0.10 per cent, while Nifty50 was at 10,371.05, down by 15.55 points or 0.15 per cent.