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VA Tech Wabag share gains 20% on plan to raise funds

Va Tech Wabag share price rose 20% intra day to Rs 219.95 compared to the previous close of Rs 183.80 on BSE.

twitter-logoBusinessToday.In | August 21, 2020 | Updated 18:45 IST
VA Tech Wabag share gains 20% on plan to raise funds
VA Tech Wabag share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Share price of Va Tech Wabag hit upper circuit of 20% in afternoon session today after the firm said its board would meet on August 25 to consider and approve raising of funds by way of issue of equity shares, on preferential basis. Va Tech Wabag share price rose 20% to Rs 219.95 compared to the previous close of Rs 183.80 on BSE.

VA Tech Wabag share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The stock opened with a gain of 5.18% at Rs 192.80 today. Later, the share closed 19% higher at Rs 218 on BSE. Market capitalisation of the firm rose to Rs 1192 crore.

The microcap stock has gained 60% in last five sessions. However, Va Tech Wabag share price has lost 20.12% in the last one year and gained 19% since the beginning of this year.

Total 8.02 lakh shares changed hands amounting to turnover of Rs 16.81 crore on BSE. The company is engaged in water treatment field. Its principal activities include design, supply, installation, construction and operational management of drinking water, waste water treatment, industrial water treatment and desalination plants.

This stock turned Rs 1 lakh into Rs 7 lakh in 107 sessions, did you miss the rally?

Meanwhile, benchmark indices ended the week on a positive note led by gains in HDFC Bank, Reliance Industries and Infosys amid strong cues from global equity markets.

Sensex ended 214 points higher at 38,541 and Nifty gained 59 points to 11,371 today. During the week, Sensex rose 557 points or 1.47%, while Nifty gained 193 points or 1.73%.

Share Market Highlights: Sensex ends 214 points higher, Nifty at 11,371; HDFC Bank, PowerGrid top gainers

Gold price rises after two days; silver rates at Rs 68,500

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