Va Tech Wabag share price rose in opening trade on May 28 after the company bagged an Operation & Maintenance order worth Rs 85 crore.
At 09:22 am, Va Tech Wabag was quoting at Rs 979.95, up Rs 12.30, or 1.27 percent, on the BSE.
"..... has secured an order worth around Rs 850 million from Nama Water Services in the Sultanate of Oman towards Operation & Maintenance (O&M) of the Al Duqm Desalination Plant for a period of 5 years," company said in its release.
The company 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.
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The company had reported consolidated profit at Rs 72.4 crore in the quarter ended March 2024 against loss of Rs 111 crore in the same quarter last fiscal.
Revenue of the company rose 0.8 percent to Rs 934.2 crore against Rs 926.9 crore, YoY.
The share touched a 52-week high of Rs 1,030.00 and a 52-week low of Rs 436.35 on 25 April, 2024 and 12 October, 2023, respectively.
Currently, the stock is trading 4.86 percent below its 52-week high and 124.58 percent above its 52-week low.
The share price surged 111 percent in the last one-year.
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