Va Tech Wabag sizzles on fund raising plan

Va Tech Wabag gained 2.49% to Rs 379.25 at 10:05 IST on BSE after the company scheduled a board meeting on 9 July 2018 to consider and approve the fund raising proposal.

The announcement was made after market hours yesterday, 4 July 2018.

Meanwhile, the S&P BSE Sensex was up 4.99 points, or 0.01% at 35,650.39.

On the BSE, 3,808 shares were traded on the counter so far as against the average daily volumes of 9,518 shares in the past two weeks. The stock had hit a high of Rs 384.20 and a low of Rs 370.05 so far during the day. The stock had hit a 52-week high of Rs 707 on 4 July 2017 and a 52-week low of Rs 366.60 on 4 July 2018.

The small-cap company has equity capital of Rs 10.93 crore. Face value per share is Rs 2.

On a consolidated basis, net profit of Va Tech Wabag dropped 20.21% to Rs 63.42 crore on 8.33% fall in net sales to Rs 1037.48 crore in Q4 March 2018 over Q4 March 2017.

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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