Buy Va Tech Wabag target Rs 804: Anand Rathi

Jay Thakkar from Anand Rathi has buy call on Va Tech Wabag with a target price of Rs 804.

The current market price of Va Tech Wabag is Rs 687.1.

Time period given by the analyst is one week when Va Tech Wabag price can reach defined target. Jay Thakkar recommended to keep stoploss at Rs 768.

"The stock has provided a breakout from a sideways consolidation and it has also closed above its breakout level which is quite positive for the bulls in the short to medium term. On the daily charts the stock has taken a good support at its crucial short term moving averages i.e. its 20DMA and 40DEMA; hence the upward momentum is still intact," the analyst says in a report.

Va Tech Wabag, incorporated in the year 1995, is a Mid Cap company (having a market cap of Rs 3749.72 crore) operating in Engineering sector.

Va Tech Wabag key Products/Revenue Segments include Sale of services which contributed Rs 1502.82 crore to Sales Value (99.29 per cent of Total Sales) and Other Operating Revenue which contributed Rs 10.61 crore to Sales Value (0.70 per cent of Total Sales)for the year ending 31-Mar-2016.