52-week high alert: Heavy buying witnessed in a small-cap company!

The scrip witnessed massive spurt in volume

On Tuesday, shares of VA Tech Wabag surged more than 4.5 per cent to make a new 52-week high of Rs 409.30 apiece. The scrip witnessed massive spurt in volume.   

In Q3FY323, the net sales of the company surged by 12.6 per cent from last year’s same quarter to Rs 745.48 crore. The EBITDA level of the company dipped by 5.86 per cent from December 2021 quarter to Rs 76.89 crore. The net profit of the company rose by 6.75 per cent from corresponding quarter last year to Rs 47.16 crore.   

On March 31, 2023, the company announced that it further enhanced its leadership position in the global desalination market, by securing a Design, Build, Operate (DBO) order for the 400 million litres per day Sea Water Reverse Osmosis (SWRO) Desalination Project from Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB) worth about Rs 4400 crore.   

This project is a landmark project for Chennai and India this project when completed, will be the Largest Desalination plant in the South East Asian Region. This project which is being funded by Japan International Cooperation Agency will enhance the water security for the city of Chennai through a stable source of drinking water in the form of desalination.   

VA Tech Wabag is a global leader in the water industry backed by rich experience spanning over 99 years. Being a pure-play water technology multinational, the company offers a complete range of technology and services for total water solutions in both municipal and industrial sectors.   

In the past 6 months, the company has shown positive traction as it surged more than 47 per cent. In the past month itself, the company's shares surged more than 18 per cent. Keep a close eye on this trending stock.