Va Tech Wabag - BUY - TP Rs.711 - Result Update - Kotak

- VA Tech Wabag's (VAW) reported good set of numbers in the second quarter on an operational basis. Profit and EBITDA Numbers were ahead of our expectations. The stock has underperformed in recent quarters due to increasing working capital intensity which has raised net borrowings.

- We have been positive on the stock in view strong order book of the company coupled with relative under-performance in stock price in H1FY18. Valuations are attractive relative to peers. Reiterate "BUY" with an unchanged price target of Rs 711.

Shares of VA TECH WABAG LTD. was last trading in BSE at Rs.533.85 as compared to the previous close of Rs. 555.15. The total number of shares traded during the day was 22564 in over 1668 trades.

The stock hit an intraday high of Rs. 559.9 and intraday low of 529.2. The net turnover during the day was Rs. 12231328.

Source : Equity Bulls

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