VA Tech Wabag surged 9.55% to Rs 200.80 after the company said its board will meet on 25 August 2020 to consider raising funds by issuing equity shares on a preferential basis.
VA Tech Wabag designs and builds water and sewage treatment plants. The company constructs sewage treatment, processed and drinking water treatment, effluents treatment, sludge treatment, desalination and reuse plants. It serves municipalities and customers in the power, steel, and oil and gas industries.
On a consolidated basis, the company's net profit tumbled 25.3% to Rs 30.47 crore on a 15.6% rise in net sales to Rs 785.06 crore in Q4 FY20 over Q4 FY19.
The scrip extended its winning streak for fifth consecutive day. The stock has added 47.91% in five sessions.
During the same period, the S&P BSE Sensex and the S&P BSE 500 index have gained 1.58% and 2.44%, respectively.
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