Rekha Jhunjhunwala’s portfolio stock, VA Tech Wabag, rose as much as 5% to ₹1,290 apiece in Monday’s trading session on March 16 after the company bagged a new contract from Chennai Metropolitan Water Supply and Sewerage Board.
The opened at ₹1,270 as compared to the previous close of ₹1227.60 on Friday. Soon, it climbed to the day’s high of ₹1,290.
VA Tech Wabag new order details
In an exchange filing dated March 14, said that the company has secured a letter of award (LOA) from the Chennai Metropolitan Water Supply and Sewerage Board to develop a looped transmission network under the Chennai Climate Resilient Water Security and Sewerage Project for Greater Chennai City.
According to the filing, funded by the Asian Development Bank, the project will establish a city-wide water grid platform for Chennai, enabling flexible water routing, improved pressure management, and greater operational reliability under both normal and emergency conditions.
The company has classified the order as a “mega” contract, suggesting that its value is around ₹1,000 crore. Following this win, Wabag’s total order book has surpassed ₹16,300 crore.
The project is particularly significant given Chennai’s long-standing challenges of water scarcity, uneven distribution, and periodic supply disruptions further intensified by climate variability and the city’s dependence on distant surface water sources. The proposed ring main system will form the backbone of Chennai’s water grid, strengthening the city’s bulk water transmission network, it said.
The scope of this project includes development of bulk transmission pipelines, feeder mains, pumping stations, and underground tanks, along with integration with the central SCADA system and testing and commissioning of the entire network. The project will be completed within 54 months, followed by 10 years of operation and maintenance.
“This project marks an important step towards building a resilient and future-ready water infrastructure for Chennai. The development of a city-wide water grid will significantly enhance supply reliability, operational flexibility, and climate resilience for the city. We are proud to partner with CMWSSB and support Chennai’s long-term water security by delivering advanced infrastructure combined with digital monitoring and smart network management,” said Shailesh Kumar, Chief Executive Officer – India Cluster.
Rekha Jhunjhunwala stake in VA Tech Wabag
Ace investor holds an 8.03% stake in VA Tech Wabag, according to the latest regulatory filing. She currently owns 50,00,000 shares of the company.
VA Tech Wabag share price trend
VA Tech Wabag share price has remained positive in the last one week despite weak market sentiments by delivering 5.29% returns.
However, the stock has remained negative in the near-term. VA Tech Wabag shares have shed 3.40% in a month, 5.58% in terms of year-to-date (YTD) and 6.44% in a year.
Meanwhile, the stock has delivered multibagger returns of 284% in three years and 394% in five years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.