highlights
In three years, this stock has given investors a 340% return.
The company has received a major order from Maharashtra.
The stock is up 18.32 percent over the past month.
New Delhi. Enthusiasm for Va Tech Wabag stock, which has been booming since last year, is still high. In early trading itself, the stock is up nearly 4 percent to hit a 52-week high. At the time of writing, it was trading at 497 rupees, up 3.55 percent. Va Tech Wabag is a multinational water technology company. It offers a variety of technologies and services for Total Water Solutions. In addition to municipalities, it also provides its services to industry.
Va Tech Wabag Company stock has doubled its investors’ money in just a year. In three years, this stock has given investors a 340% return. The company recently released its March quarter results. This company suffered a loss of Rs. 111 crore in the March quarter. While the company posted a profit of Rs.46.07 crore in the same quarter of the previous fiscal year. In fiscal 2023, the company had received orders worth Rs. 6,844 crore.
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Why is the stock going up?
According to a report by cnbcTV18 Hindi, the rise in the company’s shares was due to the company winning a major order from Maharashtra. The company has been awarded a contract valued at Rs. 420 Crore for the design, construction and operation of a Water Treatment Plant (VVTP) in Maharashtra. The capacity of this plant will be 270 million liters per day. City and Industrial Corporation (CIDCO) has awarded this contract to the company for the Raigad district of Maharashtra.
The company has told the exchanges that it must undertake the work from planning, design, supply, construction, installation and commissioning of the water treatment plant. The work on the pumping station for clean water must also be completed within 42 months of the start of the project. After that, the company will also take care of the maintenance of the plant for 15 years.
The driver is at speed
Va Tech Wabag’s stock is up 18.32 percent in the last month. In the last six months, this stock is up about 50 percent. In one year, this stock has given investors a 102 percent return. Today, Wednesday, June 7th, this stock started trading with a boom on the NSE. The stock jumped 4 percent intraday to its 52-week high of Rs.503.20.
(Disclaimer: The stocks mentioned here are based on advice from brokerage houses. If you are interested in investing in these stocks, please consult a certified investment adviser first. News18 is not responsible for your gain or loss of any kind. Will happen.)
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FIRST RELEASED : June 07, 2023 2:13 PM IST
