VA Tech Wabag surges 10% in two days, nears 52-week high on stable outlook

The company has strong revenue visibility with an outstanding order book as on 30 September 2022 of about Rs 9,200 crore (FYE22: RS 9,800 crore), which is around 3x of its annual revenue of FY22.

Shares of VA Tech Wabag were up 5 per cent at Rs 342 on the BSE in Tuesday’s intra-day trade, surging up to 10 per cent in past two trading sessions on stable outlook. The stock of water supply & management company traded closer to its 52-week high of Rs 350.40, touched on December 3, 2021.

On November 24, the rating agency India Ratings and Research (Ind-Ra) affirmed VA Tech Wabag’s long-term issuer rating at ‘IND A+’ with a stable outlook and upgraded the short-term debt rating to ‘IND A1+’ from ‘IND A1.

The short-term rating upgrade reflects