Denta Water and Infra bags orders worth ₹106 crore; stock in focus after Wednesday's jump

Shares of Denta Water and Infra Solutions Ltd. will be in focus on Thursday, December 18, after the company announced that it has bagged four orders worth ₹106 crore from the Karnataka government.

The company, in an exchange filing, said it has been awarded four projects by the Karnataka Urban Infrastructure Development and Finance Corporation Ltd. (KUIDFC), an undertaking of the Government of Karnataka.

According to the company, these projects will focus on improving urban sanitation and water management across the southern state.

The Four Major Orders

The key areas of focus for this project is the construction and upgrading of vital Sewage Treatment Plants (STPs) and sewerage systems.

Among these four projects, the Tumakuru City project is the biggest of all with a total contract value of ₹41.74 crore, excluding GST.

This is followed by the SBM/BGM Package-2 (Call-1) project, which focuses on building Sewage Treatment Plants in five ULBs in the Belagavi district. The value of this contract is worth ₹30.16 crore, excluding GST.

Read More: Denta Water and Infra Solutions slips below IPO price for first time

In addition, the SBM/KLB Package-1 (Call-2) project is valued at 20.40 crore, excluding GST, while the SBM/BGM Package-5 (Call-2) project has a contract value of Rs. 13.99 crore, excluding GST.

All these projects are funded under the Swachh Bharat Mission (SBM).

While speaking on the matter, Mruthyunjaya Swamy, Chairman and Executive Director of Denta Water and Infra Solutions, said, "These contracts underscore our commitment to high-quality execution and our dedication to supporting the Government of Karnataka's mission to enhance urban sanitation and environmental sustainability under key initiatives like the Swachh Bharat Mission (U)-2.0 and the Jalashuddhi Mission."

Denta Water Shares 

Shares of Denta Water and Infra ended 9% higher on Wednesday at ₹342. At its intraday high of ₹369, the stock had seen its biggest intraday gain since listing. The stock is down over 13% in the last one month.