VA Tech Wabag Ltd rose sharply on Wednesday, ending a seven-day losing streak. The stock jumped 8.21% to hit a high of Rs 1,312.10. It was trading 7.06% higher at Rs 1,298. At this price, it has fallen 22.48% on YTD basis.
The stock rose on the back of the company bagging a seven-year operation contract order worth Rs 121 crore. "Wabag continues to expand its presence in the Middle East region and strengthen its leadership in the O&M business, securing an order worth $14 million (Rs 121 crore) from BAPCO Refining B.S.C (BAPCO) towards operation (O&M) of Industrial Wastewater Treatment Plant (IWTP) located in the Kingdom of Bahrain, for a period of 7 years," the company said in a BSE filing.
"This state-of-the-art IWTP treats 4,400 US gallons per minute (USGPM) of Wastewater and is based on advanced Membrane Bioreactor (MBR) technology, which ensures superior treatment efficiency, meeting stringent environmental and industrial standards," it added.
"With this breakthrough order, WABAG further extends its O&M portfolio in the Kingdom of Bahrain. It is worth noting that WABAG is already performing the O&M of the 40 MLD Madinat Salman Sewage Treatment Plant in the Kingdom of Bahrain, since November 2018," Wabag said.
"We are extremely happy to secure this Industrial Wastewater treatment operations order in the Kingdom of Bahrain. We express our gratitude to BAPCO for their trust and confidence in WABAG. This order win is a testament to our technological excellence and our unwavering commitment to delivering world-class water solutions to the oil and gas sector globally," said Srinivasan K, GM - Middle East Regional Headquarters (RHQ).
Technically the stock traded below 5-day, 10-, 20-, 30-, 50-, 100-, 150- and 200-day SMA. 14-day RSI was at 23.7. Below 30 is oversold and above 70 is overbought.
As per BSE, the stock has a P/E of 33.34 and P/B of 5.02. EPS was at 38.98 and RoE was at 15.05. Promoters held 19.13% stake in Wabag as on Dec 2024 quarter.
Around 15,000 shares were traded on BSE at the time of writing this. It was lower than 2 week average volume of 48,000 shares. Turnover was Rs 1.94 crore and m-cap was Rs 8,082.27 crore.
