VA Tech Wabag shares have hit a record high of Rs 1,906.70, showing a remarkable performance with a 7.26% rise in a day, before closing 4.42% higher at Rs 1,856.20. This surge marks an impressive 269% gain in the past year and a 612% rise over two years. The stock is exhibiting high volatility, with a one-year beta of 1.1. The firm is now valued at Rs 11,543 crore.
At the end of June 2024, Rekha Jhunjhunwala held a significant 8.04% stake in VA Tech Wabag, owning 50 lakh shares. The stock had previously hit a low of Rs 440.05 on October 26, 2023. Technically, the stock is in the overbought zone with an RSI of 79.7, though it’s trading below most short- and mid-term moving averages but above the 150- and 200-day ones.
Technical analysts expect further upward momentum. Shiju Koothupalakkal sees potential for targets of Rs 1,870 to Rs 2,050, citing support at Rs 1,580. Meanwhile, Abhijeet Ramachandran warns of overbought conditions, advising profit booking, with a caution that if the stock falls below Rs 1,680, it may decline to Rs 1,248.
VA Tech Wabag specializes in water treatment, covering areas like drinking water, wastewater treatment, desalination, and industrial water treatment solutions.
Disclaimer: The information provided is for informational purposes only and should not be considered as financial or investment advice. Stock market investments are subject to market risks, and past performance is not indicative of future results. Please conduct your own research or consult a qualified financial advisor before making any investment decisions. The mentioned stock performance and analyst opinions are subject to change based on market conditions. The author is not responsible for any financial losses incurred based on the information provided.
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