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, 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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