Rekha Jhunjhunwala portfolio stock VA Tech Wabag shares are likely to remain in focus on Monday, November 16, after the company disclosed that a major desalination project in Saudi Arabia, valued at approximately ₹2,400 crore, had been cancelled by the customer, Saudi Water Authority, citing internal reasons.
Rekha Jhunjhunwala holds an 8.0% stake in VA Tech Wabag Ltd as of September 2026.
The shares ended 2% lower at ₹2,040.10 apiece on the BSE on Friday. The stock had touched a 52-week high of ₹2,320 in September 2026 and a 52-week low of ₹1,033.95 in January 2026. Despite the recent decline, it has gained 3.5% in one month, 8% in three months, 48% in six months, 45% in one year and 506% over five years.
In an exchange filing on Saturday, November 14, VA Tech Wabag said it had received the award in July 2025 to execute a 300 million litres per day (MLD) mega seawater desalination plant at Yanbu, Saudi Arabia. Following the award, the company completed the required formalities and executed the contract, which was submitted to the customer for counter-signature and formal commencement of the project.
However, Saudi Water Authority subsequently notified all tender participants through the Kingdom's Etimad electronic government procurement and tendering platform that the tender had been cancelled due to internal reasons attributable to the customer.