Multiple stocks are set to be in focus on Monday, March 16, following significant order wins over the weekend. According to reports from CNBC TV18, companies including VA Tech Wabag, Data Patterns, Bajel Projects, and Adani Power have secured substantial contracts that could impact their market performance. The order wins span across various sectors including water infrastructure, meteorological equipment, power transmission projects, and long-term power supply agreements.
VA Tech Wabag has secured a ₹1,000 crore contract from the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) to develop a looped transmission network under the Chennai Climate Resilient Water Security and Sewerage Project (CCRWSSP) for Greater Chennai City. As reported by The Economic Times, the project aims to create a city-wide water grid platform for Chennai, with the company classifying this as a 'mega' order. With this win, Wabag's total order book has surpassed ₹16,300 crore, significantly expanding its project pipeline. The project will be executed through a joint venture, with VA Tech Wabag acting as the lead partner, and is funded by the Asian Development Bank.
VA Tech Wabag shares jumped as much as 5% to ₹1,290 in Monday's trading session on March 16, following the announcement of the Chennai water grid contract. The stock opened at ₹1,270 compared to the previous close of ₹1,227.60 on Friday. According to Live Mint, the stock has delivered 5.29% returns in the last one week despite weak market sentiments. However, the stock has remained negative in the near-term, shedding 3.40% in a month, 5.58% year-to-date, and 6.44% in a year. Despite short-term challenges, the stock has delivered multibagger returns of 284% in three years and 394% in five years.
Ace investor Rekha Jhunjhunwala 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, positioning her as a significant shareholder in the water infrastructure specialist. The investment in VA Tech Wabag forms part of her diversified portfolio of infrastructure and industrial stocks.
The Chennai water grid project includes comprehensive infrastructure development with completion within 54 months followed by 10 years of operation and maintenance. As per the exchange filing, the scope encompasses development of bulk transmission pipelines, feeder mains, pumping stations, and underground tanks, along with integration with the central SCADA system and testing of the entire network. 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.
