VA Tech Wabag tanks 19% as Saudi Water Authority cancels Rs 2,700 cr order

Quick Summary:

Va Tech Wabag had received a 300 MLD Mega Sea Water Desalination plant order, worth Rs 2,700 crore, in the Kingdom of Saudi Arabia on September 6, 2024.

This was a major order win for Wabag.

Which means the order book to sales ratio still stands well over 3 times, providing revenue visibility for the medium term, ICICI Securities said in a note.

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Article Details

Category: BusinessFinance

Markets: IndiaSaudi Arabia

Topics: Tender VA Tech Wabag news Sea Water Desalination Plant Saudi Water Authority Industrial sectors VA Tech Wabag share VA Tech Wabag latest news Water EPC Municipal VA Tech Wabag share price Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-18 @ 10:00:10 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 428 words

Reading Time: 3 minutes read

Sentences: 17 lines

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Copyright Owner: © Business Standard

News ID: 24529709

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