There is a lot of discussion about many big stocks included in the portfolio of Rakesh Jhunjhunwala. In this, various speculations are often made about increasing or decreasing his holding. But a lesser known stock in his portfolio has caught everyone’s attention with his gallop. Shares of water treatment company Va Tech Wabag rose 7 per cent on Monday (November 16, 20210) after the well-known brokerage firm Nomura estimated the target price and better margins. In fact, the company has achieved a consolidated profit of Rs 25.93 crore in the second quarter. Whereas in the second quarter of last year, it made a profit of Rs 13.93 crore.
65% higher returns than current levels – Nomura
Nomura says that 65 percent more returns can be achieved in this stock than the current level. The company is making steady profits and its order book seems to be getting stronger. So this share can outperform. Nomura has rated Va Tech Wabag as BUY. A target of Rs 581 has been given for the share. The current price of the share is Rs 356. If we look at this point of view, then the return of about 65 percent can be given in the stock.
Jhunjhunwala Portfolio: Rakesh Jhunjhunwala is bullish on this multibagger stock, book profit if you have or stay on?
The order book of the company is more than 10,040 crores
The brokerage firm says that this water treatment company has a good order book and can get the benefit of government projects. The order book of the company is more than 10,040 crores and it is increasing continuously. The company’s total income has increased from Rs 610 crore to Rs 687 crore in the September quarter. Jhunjhunwala’s wife Rekha Jhunjhunwala holds 8.04 percent stake in this company. Rekha Jhunjhunwala has 50 lakh shares of this company. He bought the shares of Va Tech Wabag in August 2020 to increase his stake in the company.
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