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On Monday this small-cap company’s shares jumped over 3% after it entered into a MoU with AI  Jomaih Energy and Water (AEW). This stock has delivered 46% returns in six months and 61% returns in one year to the investors. The stock closed 14.7% below the 52-week high.

Va Tech Wabag Ltd

Va Tech Wabag Ltd the company has a market capitalization of Rs. 2,952 Cr, making it a small-cap company. On Monday the stock closed 2.6% up at Rs. 474.80 on NSE.

According to the company filing, Va Tech Wabag Ltd has entered into a Memorandum of Understanding (MoU) with AEW a leading developer of energy and water projects in the Middle East. Aiming to explore collaborative opportunities in water project development across Saudi Arabia and the Middle East region.

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Under this strategic partnership, both WABAG and AEW will cooperate in various aspects, including Engineering, Procurement and Construction (EPC), project development and feasibility assessment for potential water projects.

As per the company filing, the total revenue declined by 13% from Rs. 664.9 Cr in Q1 FY23 to Rs. 578.5 Cr in Q1 FY24 and for the same period, net profit grew by 65% from Rs. 30 Cr to Rs. 49.6 Cr. 

As per the latest shareholding data, Promoters hold 19.13%, FIIs hold 16.67%, DIIs hold 3.65% and the public hold a 60.65% stake in the company.

Engineering solutions are provided by VA Tech Wabag Ltd for the water treatment sector. The group is involved in building and maintaining water treatment facilities. Drinking water and wastewater treatment facilities are designed, built, and run by the corporation for both the municipal and industrial sectors.

Written by Sheshadri N

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