Va Tech Wabag in the green

VA Tech Wabag is amongst the top gainers on the bourses currently, up over 5% at Rs.534.50 and this is after rising almost 6.5% intra day to Rs.540.95.

The stock is up on the company’s announcement that it has hot orders worth Rs.5000 crore in FY16, the current fiscal, which is the highest ever order intake in a single financial year.

The company stated that the Exim Bank of India funded Polgahawela water treatment plant order has been brought into the company's firm order book, following the signing of the loan agreement between the Water Board of Sri Lanka and Exim Bank of India earlier this month.

The order is worth $108 million and is the second order secured from Sri Lanka by the company through buyers credit, the first one being the Dambulla order, which is at an advanced state of completion.

In Sept’15, the company had received a Rs.1500 crore worth order from Petronas for an effluent treatment plant. In July it received two orders – one from Al Madina Al Shamiya Sewage Plant worth Rs.580 crore and another Rs.220 crore order from Nigeria.