Rekha Jhunjhunwala portfolio stock VA Tech Wabag edges higher on ₹360 crore order from GAIL, IOCL

VA Tech Wabag share price gained over 2% on Thursday after the pure-play water technology company secured orders from GAIL (India) and Indian Oil Corporation. The small-cap stock, VA Tech Wabag shares advanced as much as 2.41% to ₹1,355.35 apiece on the BSE.

VA Tech Wabag said it secured order worth ₹340 crore towards Design, Build, Operate (DBO) of a 450 cum/hr UF & RO based Effluent Recycle Plant, Evaporator based Zero Liquid Discharge (ZLD) Plant and new Waste Water Treatment Plant & augmentation of existing Waste Water Treatment Plant, for GAIL India’s integrated petrochemical complex at Pata, Uttar Pradesh.

The Engineering, Procurement, Construction (EPC) scope of work under this order is scheduled to be completed over a 24-months period and will be followed by 6-months of Operation and Maintenance (O&M), VA Tech Wabag said in a regulatory filing on March 13.

Projects and Development India Limited (PDIL) has been appointed by GAIL as the Engineer-In-Charge for this Project. The recovered water from this facility will be used as Cooling Tower MakeUp water, it added.

IOCL Order

VA Tech Wabag said it has also secured a repeat Operations & Maintenance (O&M) order from Indian Oil Corporation (IOCL) worth ₹20 crore towards O&M of the Tertiary Treatment Reverse Osmosis (TTRO) Plant at IOCL Panipat Refinery, Haryana for a further period of 3 years.

VA Tech Wabag has been entrusted with the O&M of this Plant since its commissioning in 2006.

Rekha Jhunjhunwala’s Stake in VA Tech Wabag

Rekha Jhunjhunwala, the wife of Indian stock market’s Big Bull Late Rakesh Jhunjhunwala, holds a significant stake in VA Tech Wabag. As per the December 2024 quarter shareholding pattern of VA Tech Wabag, Rekha Jhunjhunwala holds 50,00,000 equity shares of the company, representing 8.04% stake.

The Promoter and Promoter Group held 1,18,95,168 shares, or 19.13% stake in VA Tech Wabag, while the remaining 5,02,95,260 shares, representing 80.87% stake, in the company are held by Public shareholders, as of 31 December 2024.

VA Tech Wabag Stock Price Trend

VA Tech Wabag share price has fallen 10% in the past one month and over 20% on a year-to-date (YTD) basis. However, the small-cap stock has delivered multibagger returns of 102% in one year and a substantial 872% in the past five years.

At 11:15 AM, VA Tech Wabag shares were trading 1.05% higher at ₹1,337.25 apiece on the BSE. 

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