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Shares of VA Tech Wabag shares surged over 8% on Monday with number of shares traded over three-times as compared to the volumes seen in the previous trading session. The stock rose Rs 20.25 or 12.10% to Rs 185.50 on the NSE with volumes of 7.72 lakh shares as at 12 pm. on the NSE today.
The stock has been on a medium term downtrend from September onwards. It fell from a high of Rs 312 traded on September 11, 2019.
The Water and waste water management company, VA Tech Wabag Ltd (WABAG), has recently got an Rs 217 crore order from Bangalore Water Supply and Sewerage Board (BWSSB).
It said that while Rs 194 crore worth order is for the construction of 60 MLD waste water treatment plant at K&C Valley with power generation, the balance Rs 23 crore is for operation and maintenance for seven years. The project is funded by Japan International Cooperation Agency (JICA).
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