The overall theme of the Union Budget 2024, despite it being an interim budget was “Its Business as Usual and let us be Prudent, Long term Growth is a given”.
Sharekhan is bullish on Va Tech Wabag has recommended buy rating on the stock with a target price of Rs 850 in its research report dated February 21, 2024.
With the demand for freshwater continuously increasing, this company has a better chance to become a major player in the water and wastewater treatment industry.
The Nifty SmallCap 100 is trading at a high P/B value of 6.7, and at least 128 smallcap multibaggers are trading above their 5-year average PE level. Companies in sectors like chemicals, consumer durables, energy, IT, and BFSI are overheated. The recent Q3 earnings season has added to concerns about expensive valuations for PSU railways, defence, and power stocks.
VA Tech Wabag Limited (WABAG) has signed an agreement with Peak Sustainability Ventures (Peak) to establish 100 Bio-CNG plants in India, GCC, Africa, and Europe. The collaboration aims to generate over 73 Million Kgs of Bio-CNG per annum, reducing the need for fossil fuels. Wabag will be responsible for execution, commissioning, and operation of the plants, while Peak will provide energy-related inputs and assist in raising capital.