Va Tech Wabag shares surge over 4%, hit 52-week high on Rs 1,000 crore order win
This order includes the engineering procurement (EP) scope, covering design, engineering, supply, installation, testing, and commissioning of the 100 MLD desalination plant.
The project will be executed over a 38-month period, followed by a 15-year operation and maintenance (O&M) contract. The plant will utilize state-of-the-art desalination technologies designed for superior energy efficiency and water production to meet the requirements of Indosol Solar's 10 GW integrated solar PV manufacturing unit in Andhra Pradesh.
Commenting on the order win, Saravanan Krishnan, Head of Desalination, India Cluster, stated, “This mega order marks WABAG’s entry into the Solar PV sector, which is a key segment for the future. WABAG’s technological expertise, proven track record, and competitive pricing enabled us to offer the lowest life-cycle cost of water for Indosol Solar."
At 11:16 am, the stock was trading 1% higher at Rs 1,687 on BSE. Its shares have surged 164% in 2024 to date and 546% over the past two years, with the company currently holding a market capitalization of Rs 10,477 crore.
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