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Water management stock jumps after it receives order worth ₹145 Cr from Chennai Petroleum Corporation

Water technology leader secured a ₹145 crore project to design and install desalination pipelines, boosting industrial efficiency and advancing sustainable water management within a 12-month completion timeline.
Water Management Stock Soars on ₹145 Cr Order Win from Chennai Petroleum Corporation – A Major Boost!
Water Management Stock Soars on ₹145 Cr Order Win from Chennai Petroleum Corporation – A Major Boost!

Introduction:

Leading water technology firm has secured a ₹145 crore order to design, engineer, and install desalination pipelines for a refinery and desalination plant, enhancing industrial water solutions and promoting sustainable water management practices.

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Share price movement of VA TECH WABAG:

On January 1, 2025, VA TECH WABAG Ltd. opened at ₹1,655.00, up 0.73% from its previous close of ₹1,643.15. The stock reached a high of ₹1,667.20 (1.46%) and a low of ₹1,642.20. By 10:54 AM, it traded at ₹1,653.80, a 0.65% increase, with a market cap of ₹10,285.05 crore.

WABAG Wins ₹145 Crore Desalination Pipeline Project:

VA TECH WABAG has secured a ₹145 crore order from Chennai Petroleum Corporation Limited (CPCL). The project involves designing, engineering, and installing desalination water pipelines for CPCL’s Manali Refinery and Kattupalli Desalination Plant.

The project will be executed over 12 months, highlighting WABAG’s ability to deliver complex industrial water solutions on tight schedules. WABAG’s technically advanced and competitive bid was pivotal in securing the contract, further establishing its dominance in the sector.

This order reinforces WABAG’s leadership in water technology and demonstrates its commitment to innovation and quality in infrastructure projects. The new project is expected to strengthen CPCL’s operational efficiency while promoting sustainable water management practices.

Recent news on VA TECH WABAG:

As of December 27, 2024, VA TECH WABAG secured a ₹700 crore wastewater treatment project in Zambia. The company will design, build, and operate plants for Lusaka Water Supply, reinforcing its presence and role in Africa’s water solutions market.

Ace investor holding in VA TECH WABAG:

Rekha Jhunjhunwala

Rekha Jhunjhunwala holds an 8.04% stake in VA TECH WABAG Ltd., amounting to 5,000,000 shares valued at ₹826.7 crore. Her investment reflects confidence in the company’s growth and leadership in the water technology sector.

Stock performance of VA TECH WABAG for Period of 1 week, 6 months and 1 year:

VA TECH WABAG Ltd. has shown impressive performance, with a 2.60% return over the past week, 24.8% over six months, and a remarkable 163% return over the past year, highlighting strong growth and market confidence.

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Shareholding pattern of VA TECH WABAG:

All values in %Sep 2024Jun 2024Mar 2024
Promoter19.10%19.10%19.10%
FII14.70%11.50%12.50%
DII3.60%5.00%5.60%
Public62.60%64.40%62.80%
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About VA TECH WABAG:

WABAG (NSE: WABAG) is a global leader in water technology, offering innovative, sustainable solutions for municipal and industrial sectors. With over 1,600 professionals, the company excels in water treatment, focusing on sustainability and resource optimization worldwide.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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