Rakesh Jhunjhunwala Portfolio Va Tech Wabag shares make a strong comeback after hitting 52-week low 223.65 levels. In the last 5 sessions, this stock of Rakesh Jhunjhunwala has surged 235.10 from each level 259.35 per share mark, registering a growth of nearly 10 per cent in the last one week. This Va Tech Wabag share price may continue the uptrend as the water treatment company recently bagged the first large-scale seawater desalination plant in Senegal and the largest in West Africa upon completion.
comment on Senegal Order win, Deep Raj Saxena, CEO – MEA Cluster, Va Tech Wabag, said, “Winning this new order in Senegal, amid strong international competition, gives us immense pride and joy. WABAG is constantly venturing into new geographies and Senegal is yet another country where our consistent marketing efforts have paid off. This important order is a testament to WABAG’s strong track record, knowledge and global competitiveness in desalination, and WABAG’s continued contribution to water security in the African continent. When completed, the plant will play a vital role in meeting Senegal’s water demand and will also be an important reference project for WABAG.”
This Sengal project is expected to further enhance the global position in the desalination market of VA Tech Wabag, Under this order, the scope of WABAG will be Engineering and Procurement (‘EP’) and Operation and Maintenance (‘O&M’), which is approximately one-third of the consortium order value. The EP area of WABAG includes design, engineering and supply of electromechanical equipment, supervision of installation and commissioning followed by 2 years O&M of the plant. The location of the plant is in the main corniche of the city of Dakar, on top of a high hill, with intakes of sea water from the Atlantic Ocean. The plant will be based on SWRO technology with highly advanced compact system considering the availability of land and challenging terrain.
The project is to be executed by WABAG in consortium with Toyota Tsusho Corporation (‘Toyota’), Japan and Eiffage Genie Civil, France (‘Eiffage’). WABAG will act as the technology and systems integrator, while Eiffage will be responsible for the construction work and Toyota will co-manage the project.
The project which is being funded by the Japan International Cooperation Agency (‘JICA’), aims to provide a safe and stable water supply to the people of Senegal by ensuring a highly sustainable water source. The foundation stone laying ceremony of the project was held in Dakar, Senegal and the start of construction of the plant was announced by the President of Senegal. The first large-scale seawater desalination plant in Senegal and the largest in West Africa upon completion, the project is expected to significantly improve people’s lives by meeting the water needs of approximately one million Dakar residents, thereby contributing to sustainable development. Contribution will be received. Economy in Senegal
Va Tech Wabag Share Price History
Rakesh Jhunjhunwala’s stock has fallen by more than 3 per cent in the last one month, despite the tremendous rally in the last one week. In YTD time, the stock has fallen over 18 per cent while it has fallen as much as 22.50 per cent in the past six months. The stock has remained a full-year ‘grow on sale’ stock as it has lost over 13 per cent in the past one year.
Va Tech Wabag . Rakesh Jhunjhunwala’s stake in
As per the Va Tech Wabag shareholding pattern for Q4FY22, Big Bull holds 5 million shares of the company, which is 8.04 per cent of the total paid-up capital of the company.