Shares of VA Tech Wabag Ltd. surged 9% on Wednesday, 9 September, following the announcement of a new contract win from Reliance Industries Ltd (RIL). According to the latest exchange filing, the company secured a medium-sized contract for an effluent treatment plant (ETP) at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. As per LiveMint, the stock opened at an intraday low of ₹2,005.10 and touched a high of ₹2,190 per share. The contract value falls within the ₹100 crore to ₹250 crore range according to the company's internal classification, with this latest order falling within this classification. As per The Economic Times, shares of VA Tech Wabag have demonstrated strong performance across multiple timeframes, gaining 53.71% in the current calendar year, 34% in the last one year, 317% in the last three years and 502% in the last five years.
As reported in the latest filing, the contract involves the design, engineering, manufacturing, supply, erection and commissioning of the ETP at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. The proposed ETP is scheduled to be completed in 13 months and will be designed comprising chemical and biological treatment using state-of-the-art technologies, along with sludge treatment incorporating low-temperature drying for efficient sludge management. The company has confirmed that no promoter/promoter group/group companies have any interest in the entity that awarded the order and no order would fall within related party transactions. For domestic orders, the company classifies orders worth ₹100 crore to ₹250 crore as 'Medium', while orders of ₹250 crore to ₹600 crore are classified as 'Large'. Orders above ₹600 crore fall under the 'Major' or 'Mega' categories, depending on their value.
According to the latest filing, Sivakumar V, Senior General Manager – Sales and Marketing, India Cluster, stated that this repeat order reinforces their long-standing relationship with RIL, a key customer, and reflects the continued trust and confidence RIL places in their capabilities. The management emphasized that this order is a testament to WABAG's technological expertise, execution capabilities, and leadership in delivering advanced industrial water and wastewater treatment solutions. The company expressed pleasure at being associated with RIL and supporting its evolving water and wastewater management requirements.
As per LiveMint, Rekha Jhunjhunwala remains invested in VA Tech Wabag with the veteran investor maintaining her stake in the water treatment company through the June quarter of FY27. As of the end of June 2026, Jhunjhunwala held 50 lakh shares of VA Tech Wabag, equivalent to an 8.02% stake in the company. Her holding remained unchanged from the March quarter of FY26, when she also owned 50 lakh shares. Meanwhile, foreign portfolio investors (FPIs) raised their exposure to VA Tech Wabag during the June quarter. FPI holdings increased to 1.14 crore shares, or 18.26% of the company, at the end of Q1FY27, from 1.03 crore shares, or 16.60%, at the end of Q4FY26. This represents an increase of around 1.66 percentage points in FPI ownership during the quarter, indicating higher foreign investor participation in the stock.
According to LiveMint, Hitesh Rathi, Technical Analyst at Angel One, noted that VA Tech Wabag had witnessed a strong upmove since the beginning of the financial year, delivering nearly 100% returns in just four months and triggering a major breakout on the technical charts. However, he believes the ongoing consolidation could present an attractive entry opportunity, as the stock continues to maintain a strong technical structure after its sharp preceding upmove. Sudeep Shah, Head of Technical Research at SBI Securities, said VA Tech Wabag has been consolidating in the ₹1,856– ₹2,254 range since late June. "Of late, the stock has found dynamic support around its 34-day EMA. The RSI, which had remained flat, has turned higher, indicating a gradual improvement in momentum," Shah said. He added that the DI lines have also started to widen, suggesting that bulls are attempting to regain dominance over bears. "However, a decisive breakout above the upper end of the consolidation range would be required for a sustained continuation of the uptrend. In the near term, the ₹1,990– ₹2,000 zone is likely to act as an immediate support," Shah concluded.
