Shares of Indian smallcap company VA TECH WABAG jumped up to 3 percent in Tuesday’s trading session after receiving an order in Tunisia worth Rs. 304.93 crores. The shares have delivered a multibagger return of 113 percent to its shareholders in one year.
With a market capitalization of Rs. 5,580 crores, the shares of Va Tech Wabag Ltd started Tuesday’s trading session on a higher note at Rs. 939.75 compared to its previous close of Rs. 930.35. During the trading session, the shares hit a high of Rs. 963.90, gaining around 3 percent and are currently trading at Rs. 900 apiece.
Such a bullish movement in the share price was observed after the company in an exchange filing announced that they had won AFD, EIB and EU funded, consortium order from ONAS, worth 114.22 Million Tunisian Dinars (approx. 304.93 crores) for a TND 36 million Wastewater Treatment Plant at Sousse Hamdoun II in Tunisia.
The scope under this order will be Engineering & Procurement (EP) and Operation and Maintenance (O&M), which is worth about half of the consortium order value.
This includes the Design, Engineering, Supply, Installation and Commissioning of the plant followed by a One-year O&M phase.
