The Business Standard | March 8, 2016
VA Tech Wabag surged 4.4% to Rs 459.95 at 11:01 ISTon BSE after the company in consortium with IDE Technologies won a Rs 594 crore contract from CMWSSB.
The announcement was made before market hours today, 8 March 2016.
Meanwhile, the BSE Sensex was up 78.48 points, or 0.32%, to 24,724.96
On BSE, so far 56,070 shares were traded in the counter, compared with an average volume of 14,032 shares in the past one quarter. The stock hit a high of Rs 468 and a low of Rs 454 so far during the day. The stock hit a record high of Rs 970 on 17 March 2015. The stock hit a 52-week low of Rs 409.30 on 1 March 2016. The stock had underperformed the market over the past one month till 4 March 2016, sliding 21.03% compared with Sensex’s 1.27% gain. The scrip had also underperformed the market in past one quarter, sliding 36.14% as against Sensex’s 3.87% fall.
The small-cap company has an equity capital of Rs 10.90 crore. Face value per share is Rs 2.
VA Tech Wabag said that the company in consortium with IDE Technologies has won a Rs 594 crore contract from Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB), Chennai for construction and operation & maintenance (O&M) of a 45 MLD Tertiary Treatment Plant at Koyambedu, Chennai.The value of the Engineering, Procurement, and Construction (EPC) and O&M portion for a period of 15 years of the contract is Rs 396 crore and Rs 198 crore respectively, VA Tech Wabag said . The consortium will be responsible for execution of the complete plant and transmission pipeline where VA Tech Wabag would act as the leader, the company said.
Va Tech Wabag’s consolidated net profit rose 36.7% to Rs 18.90 crore on 1.7% rise in net sales to Rs 628.87 crore in Q3 December 2015 over Q3 December 2014.
VA Tech Wabag is a leading multinational company specialized in water and waste water management.