Rekha Jhunjhunwala’s portfolio stock, VA Tech Wabag, jumped more than 6% in morning trade on Wednesday, 1 July, after the company announced a large order win in Austria.
VA Tech Wabag share price opened at ₹2,039.95 against its previous close of ₹2,010.75 and jumped 6.30% to an intraday high of ₹2,137.45 during the morning session. The stock, however, pared gains soon and traded 3.34% higher at ₹2,077.90 around 9:55 am.
VA Tech Wabag wins an order in Austria
Before market opening on Wednesday, 1 July, the company announced in an exchange filing that it had been awarded a large order by the City of Vienna, Municipal Department MA 31 – Wiener Wasser, for the expansion of the Donauinsel Water Works in Vienna, Austria.
The value of the order is expected to be somewhere in the range of ₹250 to ₹600 crore.
As per the exchange filing, the overall facility is scheduled for completion and commissioning in 2030, followed by acceptance milestones.
“For Wabag, the project represents a flagship reference in Austria and underlines the group’s strategic focus on Europe,” said the company.
A Rekha Jhunjhunwala portfolio stock
Prominent investor Rekha Jhunjhunwala had an over 8% stake in VA Tech Wabag in the last quarter. As per the shareholding pattern data for the March quarter of FY25, Rekha Jhunjhunwala held 50,00,000 shares, equivalent to 8.02% stake, in VA Tech Wabag.
Foreign portfolio investors (FPIs) cumulatively held 1,03,44,924 shares, or 16.60% stake in the company by the end of the March quarter.
The latest shareholding pattern data of the company is expected in the next few days.
VA Tech Wabag a multibagger stock
The stock has delivered multibagger returns over the long term. As per BSE data, VA Tech Wabag shares have surged 325% and 500% in three years and five years, respectively.
In the last one year, the stock has given a return of 46%. The stock hit a 52-week high of ₹2,188.95 on 25 June after hitting a 52-week low of ₹1,033.95 on 27 January this year.
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Disclaimer: This story is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
