VA Tech Wabag shares rise 3% after winning repeat Rs 250 crore ETP contract from Reliance Industries
VA Tech Wabag stock climbed to Rs 2,064 on the NSE Monday following a confirmed repeat order for an effluent treatment plant project in Jamnagar.
Shares of VA Tech Wabag increased by approximately 3 percent on Monday, reaching a daily high of Rs 2,064 on the National Stock Exchange. The company announced it secured a medium-sized order valued between Rs 100 crore and Rs 250 crore from Reliance Industries Limited. This contract covers the design, engineering, manufacturing, supply, erection, and commissioning of an Effluent Treatment Plant located at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar.
The project is scheduled for completion in 13 months. The facility will utilize advanced chemical and biological treatment technologies, including a sludge management system featuring low-temperature drying. VA Tech Wabag stated that its domestic orders falling within the Rs 100 crore to Rs 250 crore range are classified as medium orders.
The entity awarded the contract does not have any affiliation with promoters or group companies of VA Tech Wabag, and the deal is not considered a related party transaction. Sivakumar V, Senior General Manager at VA Tech Wabag, remarked that this repeat order demonstrates continued trust from Reliance Industries in their capabilities regarding water management.
