VA Tech Wabag shares gained on Monday after the company, along with JV partner Belhasa Projects, won an order valued at over Rs 580 crore in the water and waste-water treatment space in Bahrain.
The project is funded by Abu Dhabi Fund for Economic Development. Wabag will design and build the 40MLD Al Madina Al Shamaliya Sewage Treatment Plant. Al Madina Al Shamaliya is the new town being developed in Bahrain.
Shares of the VA Tech Wabag closed 1.43 per cent higher at Rs 800.30 on Monday.
The company is currently active in Bahrain through its subsidiary incorporated last year for doing the O&M business. This is the first EPC order for Wabag in Bahrain.
The promoters holding VA Tech Wabag stood at 29.06 per cent while institutions and non-institutions held 51.47 per cent and 19.48 per cent, respectively.
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