VA Tech Wabag eyes sea route to greater profits

Rajiv Mittal’s water tech company is betting on renewed interest in the desalination business taking it to the elusive €1 billion revenue mark and retaining investor faith.

Rajiv Mittal’s quest to make billions from the prospect of increasingly severe water crises around the world is finding takers once again.

Shares of his firm, VA Tech Wabag, have shot up 127% in the past year and are hovering close to their all-time high from back in March 2015. Four brokerages covering the stock have a “buy” recommendation, citing its “strong long-term outlook”.

Now, this euphoria is not new to Wabag. In 2014-15, the stock of India's largest water infrastructure company witnessed an almost 4x jump as investors bought into the idea that there’s big money to be made …

Author

Azman Usmani

Azman writes on climate change, ESG, and how a warming world impacts businesses and people alike. Prior to The Morning Context, he led climate coverage at BloombergQuint, where he started his career as a desk writer.

Writer

azman@mailtmc.com

Mumbai