VA Tech Wabag extends rally after fund buying; stock up 16%

The stock moved higher by 16% to Rs 324, rallied 27 per cent in past one week after Norges Bank hiked stake in the company through open market purchases.

Shares of VA Tech Wabag have moved higher by 16% to Rs 324 per share on Thursday, their highest level since September 27, 2018, on back of heavy volumes on the BSE.

The stock was trading higher for the fifth straight day, rallying 27 per cent in past one week after fund buying. In comparison, the S&P BSE Sensex was up 1 per cent during the same period.

Till 02:54 pm; a combined 2.08 million equity shares, or 3.82 per cent of VA Tech Wabag have changed hands on the NSE and BSE. On an average, one million