Va Tech Wabag rose 3.92% to Rs 303.30 at 11:22 IST on BSE after the company said it secured a Rs 1,187 crore order from Bihar Urban Infrastructure Development Corporation under the National Mission for Clean Ganga scheme.
The announcement was made during market hours today, 23 July 2019.
Meanwhile, S&P BSE Sensex was up 26.33 points or 0.07% at 38,057.46.
On BSE, 23,000 shares were traded in Va Tech Wabag counter, compared to a 2-week average of 17,000 shares. The share price hit an intraday high of Rs 309.30 and an intraday low of Rs 292. It hit a 52-week high of Rs 413.45 on 30 August 2018 and a 52-week low of Rs 243.45 on 11 December 2018.
The contract is to develop sewage treatment plants (STP) of 150 MLD capacity along with sewerage network of over 450 km in the Digha and Kankarbagh zones of Patna, one of the most populous cities on the banks of River Ganga. This project comprises of a design, build and operate (DBO) scope worth Rs 940 crore and hybrid annuity scope worth around Rs 247 crore.
The construction of sewerage networks which represents over 80% of the total contract will be executed on a DBO basis and the remaining around 20% towards STPs will be implemented under HAM basis. The company will also be responsible for the operations and maintenance of the STPs and the sewerage infrastructure for a period of 15 years. The project will be implemented by Bihar Urban Infrastructure Development Corporation (BUIDCO) with financial assistance from the World Bank under the National Mission for Clean Ganga (NMCG) scheme.
Va Tech Wabag's consolidated net profit fell 31.7% to Rs 40.77 crore on a 34.5% decline in net sales to Rs 679.25 crore in Q4 March 2019 over Q4 March 2018.
Va Tech Wabag is a holding company engaged in water treatment field.
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