The Exchange has sought clarification from VA Tech Wabag Limited with respect to recent news item captioned VA Tech Wabag shares surge on the back of this CNBC-TV18 exclusive. The response from the Company is attached.
WABAG · price
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VA Tech Wabag has clarified a CNBC-TV18 news report that caused its shares to surge. Regarding a claimed INR 600 crore sewage treatment plant bid in Saudi Arabia, the company explicitly states it is not aware of any such project where it has been declared lowest bidder. For the Kuwait project, the company confirms its Joint Venture with HEISCO did submit the lowest bid of KD 114,280,000 for a Desalination Plant (notified by customer on August 6, 2025), but states it is still awaiting the formal Letter of Award (LOA). The company says no order bagging disclosure was required as no contract has been formally awarded yet.
The clarification indicates the stock surge was likely based on unconfirmed reports. While the Kuwait project bid is legitimate, it remains a pending award rather than a confirmed order, so investors should avoid pricing in large contracts prematurely.