VA Tech at new high

VA Tech Wabag announced today morning that it has secured a work order from SEPCO III Electric Power Construction Corporation (SEPCO III) for engineering and procurement work at a 20 MLD Industrial Wastewater Treatment Plant (IWWTP) at Ras Tanura Refinery Complex, Saudi Arabia.

This order is scheduled to be completed over a 20-month period, and will employ biological treatment followed by Filtration and Reverse Osmosis technologies to treat the effluent partly towards Reuse in the refinery.

The market has given this news a big thumbs up with the stock price reacting positively; from its close of Rs.660.70, the stock opened at Rs.700.05 and soon went on to hit a new 52-week high at Rs.729. It has come off the highs of the opening bell session and is now trading at Rs.629 levels.