Va Tech Wabag share rose up to 8% today after the water treatment firm reported its earnings for Q4. Ace investor Rakesh Jhunjhunwala held 50 lakh shares or 8.04% stake in the firm on behalf of his wife Rekha Rakesh Jhunjhunwala at the end of March quarter last fiscal.
He bought stake in the firm for the first time in August 2020. The stake purchase was a part of fund raising exercise of the water treatment firm. The company would issue 50 lakh shares to Rekha Rakesh Jhunjhunwala. VA Tech Wabag share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The stock touched an intraday high of Rs 304.6 , rising 7.96% against previous close of Rs 282.15 on BSE. The stock opened with a gain of 3.49% at Rs 292 today.
Jhunjhunwala couple earned Rs 18.4 crore per day with this stock for 11 sessions
The stock has climbed 13.64% in the last 4 days . The share has gained 167.17% in one year and risen 45.51% since the beginning of this year. In a month, the stock has gained 24.67%. Later, the share closed 6.29% higher at Rs 299.90 on BSE. Market capitalisation of the firm rose to Rs 1,865.09 crore.
Total 3.30 lakh shares changed hands amounting to turnover of Rs 9.82 crore on BSE.
The firm clocked a standalone profit of Rs 32.82 crore in last quarter against standalone net profit at Rs 1.38 crore during corresponding quarter previous year. For the year ending March 31, 2021, standalone profit rose to Rs 73.03 crore against Rs 58.76 crore in the same period last fiscal. Standalone total income went up to Rs 701.09 crore during the quarter under review from Rs 503.61 crore.
For the year ending March 31, 2021, standalone total income stood at Rs 1,852.89 crore as against Rs 1,766.93 crore registered a year ago.
In a statement, VA Tech WABAG said the year-on-year sales grew by 11 per cent while the engineering, procurement and construction business grew by 10 per cent and the operation and maintenance segment rose by 17 per cent.
Rs 22 to Rs 118: This stock held by Rakesh Jhunjhunwala turned into a multibagger in one year
The order book of over Rs 9,500 crore includes framework contracts, the company said.The company is engaged in water treatment field. Its principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.