Va Tech Wabag wins repeat order from RIL, stock gains

Shares of Va Tech Wabag Ltd rose 2% in early deals on Monday after the water treatment firm said it secured a ‘Medium’ order from Reliance Industries Limited (‘RIL’). The order is for Design, Engineering, Manufacturing, Supply, Erection & Commissioning of an Effluent Treatment Plant (‘ETP’), at Dhirubhai Ambani Green Energy Giga Complex (DAGEGC), Jamnagar.

The order is to be executed in 13 months.

VA Tech Wabag stock gained 2% to a high of Rs 2043 in the current session. Market cap of the firm climbed to Rs 12,665 crore. A total of 885 shares of VA Tech Wabag changed hands amounting to a turnover of Rs 18.07 lakh. VA Tech Wabag stock has a one-year beta of 1.31, indicating high volatility during the period.

In terms of technicals, the relative strength index (RSI) of VA Tech Wabag stands at 50.2, signaling it's trading neither in the overbought nor in the oversold zone.

VA Tech Wabag shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.

The proposed ETP scheduled to be completed in 13 months will be designed comprising chemical and biological treatment using the state-of the art technologies, along with a sludge treatment incorporating low-temperature drying for efficient sludge management.

Commenting on the order win, Sivakumar V, Senior General Manager – Sales and Marketing, India
Cluster, said, “This repeat order reinforces our long-standing relationship with RIL, a key customer, and reflects the continued trust and confidence RIL places in our capabilities. We are pleased to be associated with RIL and support its evolving water and wastewater management requirements. This order is a testament to WABAG's technological expertise, execution capabilities, and leadership in delivering advanced industrial water and wastewater treatment solutions.”
 
VA Tech Wabag Limited is engaged in the water treatment field. The company's principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants. It provides solutions for drinking water treatment, industrial and process water treatment, water reclamation, sea and brackish water desalination, municipal waste water treatment, industrial waste water treatment and sludge treatment.