VA Tech Wabag gains on bagging contract to operate and manage Istanbul’s entire wastewater system

13 Jul 2015 Evaluate

VA Tech Wabag is currently trading at Rs. 790.00, up by 22.90 points or 2.99% from its previous closing of Rs. 767.10 on the BSE.

The scrip opened at Rs. 794.00 and has touched a high and low of Rs. 801.80 and Rs. 782.85 respectively. So far 7,807 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 970.00 on 17-Mar-2015 and a 52 week low of Rs. 617.20 on 28-Apr-2015.

Last one week high and low of the scrip stood at Rs. 833.00 and Rs. 754.90 respectively. The current market cap of the company is Rs. 4,298.00 crore.

The promoters holding in the company stood at 29.06% while Institutions and Non-Institutions held 51.47% and 19.48% respectively

VA Tech Wabag has bagged a contract to operate and manage Istanbul’s entire wastewater system. The contract value is over $50 million (about Rs. 200 crore) a year with payments made monthly by the utility. The project involves treatment and disposal of over 5 million cubic metres of domestic and industrial effluent generated by the city daily, which has a population of over 16 million. Istanbul also generates nearly half of Turkey’s industrial output. 

The company’s Turkish subsidiary is handling the operation and maintenance of Istanbul’s wastewater infrastructure for the local utility, Istanbul Water and Sewage Administration. The infrastructure includes three central treatment plants, 50 supplementary treatment plants and nine pre-treatment plants with a capacity to handle over 850,000 cubic metres daily and a 23 MW biogas power plant.

VA tech wabag a leader in the Indian water technology market and currently holds a market share of around 14 per cent. The company has consolidated its’ specialist reputation through a number of innovative and path-breaking projects in the fields of water treatment and wastewater recycling. It also disposes over locations in Delhi, Kolkata (Calcutta), Pune and Vadodara, as well as on the Philippines, in Oman and Spain, and at present has a workforce of more than 800.


VA Tech Wabag Share Price

1694.70 -7.80 (-0.46%)
22-Nov-2024 16:59 View Price Chart
Peers
Company Name CMP
VA Tech Wabag 1694.70
Race Eco Chain 345.15
Antony Waste Hand 612.25
RESGEN 112.05
GEM Enviro 152.55
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