VA Tech Wabag Ltd has recently secured a new order for a solar project valued at Rs 1000 crore. This announcement led to a surge of over 4% in the company’s stock price, bringing it to a 52-week high. The project, awarded by Indosol Solar Pvt Ltd, is to be completed within 38 months. VA Tech Wabag will handle the design, installation, and maintenance of the solar panels for 15 years.
Strong Market Performance
This latest contract follows another significant order from Reliance Industries worth between Rs 300-500 crore, received on October 10. The company anticipates that its total order book could reach between Rs 16,000 crore and Rs 17,000 crore by year-end. VA Tech Wabag’s shares have demonstrated remarkable growth in 2024, with a 158% increase year-to-date, and over 20% in the last month alone.
Historical Context and Investor Rewards
In 2015, VA Tech Wabag rewarded investors with bonus shares, enhancing their value significantly. That year, the company also paid a dividend of Rs 4 per share, providing additional income to shareholders. With a current market capitalization of Rs 10,577.97 crore, VA Tech Wabag is poised for continued popularity among investors.
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Summary at glance
VA Tech Wabag Ltd has secured a solar project order worth Rs 1000 crore from Indosol Solar Pvt Ltd, boosting its shares by over 4% and reaching a 52-week high. The company is responsible for the project’s design, installation, and maintenance for 15 years, to be completed within 38 months. With a recent order from Reliance Industries and a projected order book of Rs 16,000-17,000 crore by year-end, VA Tech Wabag’s market position is strengthening significantly.
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