Va Tech Wabag share value: This Jhunjhunwala inventory rallies 15% as Nomura raises goal value

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New Delhi: Shares of water therapy participant Va Tech Wabag superior as a lot as 15 per cent in Wednesday’s commerce after international brokerage agency Nomura raised its goal value on the inventory.

The Japanese analysis agency maintained a ‘purchase’ ranking on the inventory whereas rising the goal to Rs 634 per share, which exhibits an upside of about 115 per cent from Tuesday’s closing value of Rs 295.55.

Following the revision within the goal value, shares of Va Tech Wabag rallied as a lot as 15 per cent to Rs 340 per cent earlier than slipping to 326.85 at 11.45 am.

BSE barometer and benchmark Sensex was buying and selling 175.7 factors or 0.30 per cent decrease at 57,966.35 on the time of scripting this report.

Rekha Jhunjhunwala, the spouse of Rakesh Jhunjhunwala, owned 50,00,000 fairness shares or 8.04 per cent stake within the firm on the finish of December quarter.

“We proceed to worth Va Tech Wabag at 15x (based mostly on sustainable ROE of 14 per cent) FY24F EPS of Rs 41.8 and add guide worth of HAM (hybrid annuity mannequin) belongings to reach at our goal value of Rs 634,” stated Nomura in its report.

The brokerage has highlighted slowing home capex for water and a pointy rise in commodity prices as key dangers for the corporate.

Shares of Va Tech Wabag have remained flat over the past one month, whereas the counter is buying and selling about 25 per cent beneath its 52-week excessive of Rs 404.25 hit in August final yr.

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