Wabag in good waters

VA Tech Wabag is among the top gainers on the BSE since opening bell and it is has in fact been gaining for the last 2 days, rising 5% in this period. Today, it hit an intraday high at Rs.308.65, going up almost 7.5%. Its 52-week high is at Rs.413.45.

There is no new development as such in the stock but some reports emerging about the future potential based on the Govt’s ‘Nal se Jal’ scheme, which aims to provide piped water connection to every household by 2024.

This is  expected to attract an investment of Rs 6.3 lakh crore to the water and sanitation sector in next five years and the company hopes to benefit from it. 

Investor Porinju Veliyath also said in a TV interview that he sees big opportunity in water treatment.