VA Tech zooms on Philippines order
By
Research Desk
about 9 years ago
VA Tech Wabag is in the limelight. The stock opened higher at Rs.1570 (closing on Wednesday of Rs.1515.80), going on to hit an intra day high atvRs.1590.30. It has come off this high but remains firmly in the green, up over 2.5% at Rs.1550 levels.
The company announced today morning that it has secured a Rs.175 crore order from Phippines for putting up a World Bank funded sewage plant. This plant, 60 MLD capacity will be for Maynilad Water Services and this contract also includes operations and maintenance of the plant for one year. The company has stated that its Philippines unit, Wabag Philippines has an impressive order backlog of around Rs.450 crore. It began operations in the country some three years ago.