Va Tech Wabag Rallies 7.5% on Rs 1,500 Crore Order

Va Tech Wabag shares rallied as much as 7.5 per cent to hit intraday high of Rs 735.35 after the water management company bagged an order worth Rs 1,500 crore from Petronas.

Va Tech Wabag in a press release said, "Petronas through its wholly owned subsidiary awarded consortium of Va Tech Wabag and Muhibbah Engineering a contract for the design competition for re-FEED and engineering, procurement, construction and commissioning of the effluent treating plant (ETP) for Petronas Refinery and Petrochemicals Integrated Development (RAPID) in Pengerang, Johor, Malaysia. 

The contract value of the effluent treating plant is about Rs 1,500 crore, it added. 

Va Tech Wabag will execute the project in partnership with Muhibbah Engineering. 

Shares of Va Tech Wabag ended 4.14 per cent higher at Rs 712.