New Delhi:The beginning of the new week was not good for the domestic market. Nifty and Sensex are trading with a decline of about one per cent. But Broader Markets has maintained the trust of the market participants and provided them ample trading opportunities. Broader Markets has outperformed Frontline Indices. A smallcap stock has grabbed everyone’s attention. Va Tech Wabag Ltd., a company doing business of water treatment. The stock jumped seven per cent on Monday. It hit a 52-week high by touching Rs 380 on the NSE. More than 13 lakh shares have been traded so far, which is a single day volume record after March 31. This volume is higher than 10 day and 30 day average indicating strong participants. Technically speaking, the stock is trading above all short and long term moving averages. All the factors are trending fast. Also, the stock is touching the Guppy Multiple Moving Average (GMMA) standards which are showing fundamentally bullish signals. The EPS Rank of the company is 74 which is a good score. This stock has given multibagger returns to its shareholders. It has grown by more than 250 per cent in the last three years. Billionaire investor Rekha Jhunjhunwala holds 8.04% stake in the company. Foreign institutional investors (FIIs) increased their stake in the company from 14.4% to 15.9% in the December quarter while domestic institutional investors (DIIs) also raised their holdings to 3.5% from 3.3%. Given the strong commitments coming from institutions and strong technical picture, further upside is expected for this stock. This is a great opportunity for investors to invest in it.
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