Rakesh Jhunjhunwala portfolio stock soars 5.5 percent after strong Q1 FY22 results

12 Aug , 2021 By : Kanchan Joshi

Rakesh Jhunjhunwala portfolio: On account of three fold rise in net profit, revenue from operations growing at 67 per cent and company's order book standing at whopping Rs10,400 crore, Va Tech Wabag share price has shot up around 5.50 per cent in the intraday trade session. Va Tech Wabag, which has Rakesh Jhunjhunwala share holding to the tune of 8.04 per cent, today opened with an upside gap of Rs9 and went on to make an intraday high of Rs362.95 per equity share levels.

Va Tech Wabag Q1 FY 2021-22 result

In April to June 2021 quarter, Va Tech Wabag has reported three fold jump in its standalone net profit. The water treatment company reported 67 per cent growth in revenue from operations to Rs470 crore and its order book after the end of Q1FY22 stands at whopping Rs10,400 crore. Company management said that Va Tech Wabag has been able to maintain the pace in business for the last few quarters and they expected this momentum to further pick up in upcoming quarters. The management expressed confidence in maintaining the profitability in upcoming three more quarters of the financial year.

Va Tech Wabag share price history

For the last 3 months, this Rakesh Jhunjhunwwala holding company stock has been trading sideways. It has shed around 3.52 per cent in the last one month while in the last 5 trade sessions; it has corrected around 3 per cent. However, in the last 3 months, it has remained in the range of Rs350 to Rs395. So, this strong reaction from the markets after the positive quarterly results, this Rakesh Jhunjhunwala share price is expected to further pick up.

Va Tech Wabag share price outlook

Speaking on this Rakesh Jhunjhunwala portfolio stock; Sumeet Bagadia, Executive Director at Choice Broking said, "Va Tech Wabag shares have strong support at Rs325 to Rs330 and it may go up to Rs375 to Rs380 soon. One should hold the counter for this target as the stock is looking positive on the daily chart pattern."

Rakesh Jhunjhunwwala share holding in Va Tech Wabag

As per the shareholding pattern of this Rakesh Jhunjhunwala holding company for Q1 FY22 period, Big Bull owns 50 lakh shares of the company, which is to the tune of near 8.04 per cent of the net company stocks. The 'Warren Buffett of India' invested in this company in July to September 2020 period buying around 8 per cent stake in the company. After that, he has remained invested with the same percentage of stake in the company.