Va Tech Wabag Share Price 📈
Va Tech Wabag Limited, a leading player in the water and wastewater treatment industry, saw a remarkable surge in its share price on Monday. The company’s share price soared by 11% to reach a 52-week high of ₹730.20. One of the main factors behind this increase was the company securing an order for an industrial effluent treatment plant in Saudi Arabia. Additionally, the company has also received orders from Saudi Arabia.
What did the company say? 🗣️
The order is expected to be completed within 20 months, and a partial treatment of waste will be carried out for refinery rejuvenation. The plan includes oxidation to treat the waste generated, along with other processes. Mr. Shivkumar V, Executive Director of VA Tech Wabags, stated, “This is another significant success for us in Saudi Arabia. This order is a testament to the company’s technological leadership in the oil and gas sector.”
Share position 📊
On Tuesday, 6th February 2024, the share price of Va Tech Wabag was trading at ₹706, up by 0.40%. The 52-week high for the company’s shares is ₹730.20, which was achieved just yesterday. The 52-week low stands at ₹304.55, reached on 27th February 2023. The market capitalization of the company is ₹4,475.85 crore.
Market performance 📉
Amidst weak global cues, the domestic market remained under pressure today. During intra-day trading, both the Sensex and Nifty crossed the 21,950 level before succumbing to selling pressure and ending in the red. The Sensex was down by 354.21 points or 0.49% at 71,731.42, while the Nifty declined by 82.10 points or 0.38% to close at 21,771.70.
Va Tech Wabag’s remarkable surge in share price and the securing of an order from Saudi Arabia have certainly caught the attention of investors. With its expertise and technological prowess, the company is poised for further growth in the water and wastewater treatment industry.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
