Va Tech Wabag Ltd Share Price – NSE  /  BSE

Infrastructure Developers & Operators, Small Cap

The Board of Va Tech Wabag at its meeting held on 08 July 2024 has approved the sale of 100% stake in Wabag Water Services S.R.L., Romania (Wabag Romania). The divestment is a part of the company's business strategy to optimise the group's structure and in line with the company's strategic focus to reduce exposure to European geographies.

Wabag Romania is a wholly-owned subsidiary of VA Tech Wabag GmbH, Austria (Wabag Austria), step down subsidiary of the company.

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Va Tech Wabag has won an Arbitration award against Kerala Water Authority for dispute pertaining to the works of JBIC Assisted Kerala water supply project package-1 works for Cherthala Scheme, Intake Water, Raw Water Transmission Main and Water Treatment plant.

The Hon'ble Arbitrator has rejected the Counter Claims filed by Kerala Water Authority of Rs. 83 crore and allowed the Claims of Va Tech Wabag of return of Bank Guarantee (BG) amount of Rs. 23,24,29,700/-and release of Rs. 12,86,70,359/- along with 9% interest from the date of award i.e. 03 July 2024 till the date of realization of payment.

Total award as on 03 July 2024 is Rs. 36,11,00,059/-

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Sterling & Wilson Renewable Energy Ltd, Brigade Enterprises Ltd, APL Apollo Tubes Ltd and H.G. Infra Engineering Ltd are among the other losers in the BSE's 'A' group today, 12 June 2024.

Va Tech Wabag Ltd lost 4.74% to Rs 1117.55 at 14:47 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 82744 shares were traded on the counter so far as against the average daily volumes of 96099 shares in the past one month.

Sterling & Wilson Renewable Energy Ltd crashed 3.95% to Rs 765. The stock was the second biggest loser in 'A' group.On the BSE, 2.26 lakh shares were traded on the counter so far as against the average daily volumes of 2.21 lakh shares in the past one month.

Brigade Enterprises Ltd tumbled 3.72% to Rs 1346. The stock was the third biggest loser in 'A' group.On the BSE, 17582 shares were traded on the counter so far as against the average daily volumes of 28399 shares in the past one month.

APL Apollo Tubes Ltd corrected 3.16% to Rs 1582.15. The stock was the fourth biggest loser in 'A' group.On the BSE, 28883 shares were traded on the counter so far as against the average daily volumes of 23837 shares in the past one month.

H.G. Infra Engineering Ltd plummeted 2.95% to Rs 1764.85. The stock was the fifth biggest loser in 'A' group.On the BSE, 53848 shares were traded on the counter so far as against the average daily volumes of 54983 shares in the past one month.

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WABAG constructed this 8 MLD Desalination Plant over 10 years back and was responsible for the O&M of the plant until 2018. This long term O&M order which has been won against international competition entails O&M of the Plant, the sea water intake and outfall systems.

The water produced from this plant will be used for domestic consumption in Duqm & Haima areas of Al Wusta Governorate.

Subramaniam M, sales & business development director – GCC said: “In line with our growth strategy, this new order addition in Oman, to our already strong O&M order book provides annuity income which helps us with improved cash flow and better revenue predictability.

We thank Nama Water Services for their continued confidence in our capabilities and technical competence which has been key to winning this repeat order.”

VA TECH WABAG is a pure-play water technology company. It offers a complete range of technologies and services for total water solutions in both municipal and industrial sectors.

The company's consolidated net profit rose 33.43% to Rs 62.90 crore on an 8.11% increase in revenue to Rs 704.40 crore in Q3 FY24 as compared with Q3 FY23.

The scrip shed 0.38% to currently trade at Rs 963.95 on the BSE.

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