Rakesh Jhunjhunwala portfolio stock jumps 5%, should you buy, sell or hold?
Zee News
Rakesh Jhunjhunwala is known for making massive profits from the stock markets.
New Delhi: Ace stock market investor Rakesh Jhunjhunwala is known for making massive profits from the stock markets. Often called the Big Bull of the Indian stock market, Jhunjhunwala has made a lot of money by placing bets on stocks that provided impressive returns. Several retail market investors, as well as fund managers, keep a tab of stocks in Rakesh Jhunjhunwala’s portfolio.
One such stock in Rakesh Jhunjhunwala’s portfolio, VA TECH WABAG (‘WABAG’), jumped as much as 5% intraday on June 3. However, the stock closed with a 3.66% gain on Friday to 259.35.
The sudden movement in the stock came after it was announced to the public that the company has bagged an order for 50 MLD desalination project in Senegal. VA Tech Wabag Ltd is a company catering to the water management and supply segment
"VA TECH WABAG (‘WABAG’), a leading pure-play water technology Indian Multinational Group, further enhanced its global position in the Desalination market, by securing a consortium Design, Build, Operate (‘DBO’) order, for the 50 MLD (expandable to 100 MLD) Mamelles Sea Water Desalination," said the company in regulatory filing on Friday.
In the past 5 days, the stock has jumped 7.61%, offering impressive returns to the investors. However, the upward movement in the stock has come after weeks of downfall. For instance, the stock is down 9.33% in the last one month. Also Read: BIG collab between WhatsApp, Indian govt! App to be used for healthcare, administrative purposes
