VA Tech in the limelight

VA Tech Wabag is in the news today morning. The stock which had closed at Rs.450, opened with a gap at Rs.455 and it is currently up at Rs.459, closer to its intra day high at Rs.460. Volumes are muted at 861 shares changing hands today morning.

The stock is up after it announced today morning that it has received a Rs.115 crore order from Chennai Metropolitan Water Supply and Sewage Board.  The completion of the project is scheduled for 24 months for water supply and 30 months for the sewage scheme.

This is the largest order for the company w.r.t pumping station and pipeline works and the first comprehensive water supply and sewage project. The company obviously enjoys a lot of confidence with the Chennai Metropolitan water supply as it continues to get repeat orders.