Shares of VA Tech Wabag hit a three-month high of Rs 359, up 7% on the BSE in intraday trade on Thursday, amid an already subdued market. The stock has been trading at its highest level since December 19, 2022. In contrast, the S&P BSE Sensex was down 0.10% at 58,148 at 10:53 am.

Over the past week, the company’s shares surged 12%, outperforming the broader market, after it won an Rs 800 crore design, build and operate (DBO) order in Bangladesh, fully financed by the World Bank and the AIIB. The company said its scope included design, engineering, supply, construction, installation and commissioning of the 200 MLD STP, as well as operations and maintenance (O&M) for 60 months.

The company added that the project has the potential to expand to 600 MLD in the future, driven by growing demand in the city.

VA Tech Wabag is one of the experienced players with more than 25 years of extensive experience in water technology through engineering, procurement and construction (EPC) services, O&M services, research and development, construction and commissioning.

The company is a significant player, implementing more than 1,450 plants, including more than 450 wastewater treatment plants and more than 320 water treatment plants. The company’s orders are very diverse in all municipal and industrial projects, and its business is on all continents.