VA Tech Wabag Share Price Gains Nearly 4% on Major Rs 2,332 Crore Saudi Deal

Market Performance

• VA Tech Wabag share price rose 3.93% in early trade on July 24, following a key international project win.
• At 09:22 AM, the stock was trading at Rs 1,655, up by Rs 62.65 from the previous close.
• During the prior trading session, the stock settled at Rs 1,592.35, reflecting a 0.53% rise.

Main News

VA Tech Wabag has secured a landmark desalination contract worth approximately Rs 2,332 crore from the Saudi Water Authority (SWA). The company received a Letter of Award for a 300 Million Litres per Day sea water reverse osmosis plant at Yanbu, located along the west coast of Saudi Arabia.

Key Project Highlights:

• Project Type: 300 MLD Sea Water Reverse Osmosis Plant
• Location: Yanbu, Kingdom of Saudi Arabia
• Contract Value:
  • USD: 272 million
  • SAR: 1,019 million
  • INR: Rs 2,332 crore
• Scope: Design, engineering, supply, construction, and commissioning
• Nature: Greenfield site development

Company Details

Speaking on the development, Rohan Mittal, Head of Strategy and Business Growth for GCC, highlighted this as a repeat success in the same project space, further validating the company’s technical prowess and global competitiveness in handling large-scale desalination works.

He emphasized the project’s alignment with Saudi Vision 2030, reinforcing VA Tech Wabag’s leadership in the global water desalination sector.

Stock Insights

• 52-Week High: Rs 1,943.95 (as of December 9, 2024)
• 52-Week Low: Rs 1,109.35 (as of January 28, 2025)
• Current Price Gap:
  • 14.86% below 52-week high
  • 49.19% above 52-week low
• Market Capitalisation: Rs 10,296.69 crore

Summary of the Article

The VA Tech Wabag share price saw a sharp rise following a major international contract win for a 300 MLD desalination plant in Saudi Arabia. Valued at Rs 2,332 crore, this deal reaffirms the company’s execution capabilities and strong presence in the Middle East's water infrastructure market.

This prestigious win not only marks a significant milestone in VA Tech Wabag’s project portfolio but also strengthens its footprint in alignment with global strategic initiatives like Saudi Vision 2030.