Va Tech Wabag gains on bargain hunting

Va Tech Wabag rose 2.65% to Rs 548 at 11:22 IST on BSE on bargain hunting after sliding 9.15% in the preceding five trading sessions to settle at Rs 533.85 yesterday, 15 November 2017, from its close of Rs 587.60 on 8 November 2017.

Meanwhile, the S&P BSE Sensex was up 182.86 points, or 0.56% at 32,943.30. The S&P BSE Small-Cap index was up 92.13 points or 0.53% at 17,365.53.

On the BSE, 3,955 shares were traded on the counter so far as against the average daily volumes of 15,827 shares in the past one quarter. The stock had hit a high of Rs 554.45 and a low of Rs 534.40 so far during the day. The stock had hit a 52-week high of Rs 749 on 21 June 2017 and a 52-week low of Rs 449.95 on 23 December 2016.

The stock had underperformed the market over the past one month till 15 November 2017, sliding 10.64% compared with the Sensex's 1.01% rise. The scrip also underperformed the market over the past one quarter, declining 15.03% as against the Sensex's 4.17% rise. The scrip had also underperformed the market over the past one year, rising 8.98% as against the Sensex's 16.49% rise.

The small-cap company has equity capital of Rs 10.92 crore. Face value per share is Rs 2.

Va Tech Wabag's consolidated net profit surged 41.79% to Rs 37.63 crore on 13.73% rise in total income to Rs 887.47 crore in Q2 September 2017 over Q2 September 2016.

VA Tech Wabag is engaged in water treatment field. The company principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.

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