Around 143 shares fell to the touch of their 52-week lows on NSE in Wednesday’s consultation.
Among the stocks that touched their 52-week lows have been Alicon Castalloy, Arihant Superstructures, Astec LifeSciences, Balaji Amines, Blue Dart Express, Century Enka, and CG Power.
Domestic benchmark index NSE Nifty was buying and selling 34. Fifty-five factors up at eleven,697.15 even as the BSE Sensex was buying and selling one hundred thirty.60 factors up at 39,261.Sixty-four.
In the Nifty 50 index, UPL, Kotak Bank, ZEEL, Tech Mahindra, and HCL Tech were among the top gainers at the NSE.
However, YES Bank, GAIL, Coal India, JSW Steel, and ONGC had been some of the pinnacle losers.
Look who’s looking to coins in on the acute water disaster that much of India is facing! One is ace investor Rakesh Jhunjhunwala.
Most buyers on Dalal Street have noticed the possibility of water control. Shares of Ion Exchange and VA Tech Wabag have performed remarkably well this year in an extensively polarised market. Eight in line with cent of shares have witnessed intense selling stress because of economic slowdown and a liquidity squeeze.
Ion Exchange inventory is up over 80 consistent with cent year to date to alternate at Rs 677.60 on July 15 from Rs 375.70 on January 1, while VA Tech Wabag has rallied 10 in keeping with cent. BSE benchmark Sensex is up almost 8 consistent with cent in this period.
Ace investor Rakesh Jhunjhunwala is among the traders betting big on Ion Exchange. He held eight 00,000 stocks as of June 2019. Over the years, he has greater than doubled his conserving in the agency to over five in keeping with cent from 2.50 in line with cent in December 2007.
Ion Exchange believes improved water quarter funding by using the government and industry, and fast urbanization would cause a greater call for the water treatment infrastructure. The corporation additionally expects its chemical substances business to develop at thirteen-15 in step with cent on healthful backside line enlargement.
The authorities’ ‘Nal se Jal’ scheme is expected to attract Rs 6.3 lakh crore funding to the water and sanitation region in the subsequent five years, and the organization hopes to gain from it.
Ion Exchange’s sales have jumped one hundred thirty-five in line with cent from Rs 493 crore in FY2009 to Rs 1,162 crore in FY19 and profit from Rs 2.10 Rs 65.30 crore.
Kochi-primarily based investor Porinju Veliyath says there is an opportunity in water remedy. “We cannot be absolutely dependent on rainwater. India has to move an extended manner in desalination or wastewater remedy, ingesting water remedy and water solutions,” he instructed ET NOW in an interview.
JM Financial Institutional Equities says the ‘Nal se Jal’ scheme, which pursuits to provide piped water connection to each family by 2024, will possibly lead to a large soar in funding in water and sanitation.
Ion Exchange offers a wide variety of answers throughout the water cycle from pre-remedy to technique water treatment, wastewater remedy, recycle, 0 liquid discharge, sewage treatment, packaged ingesting water, and seawater desalination.
It is also engaged in the production of ion change resins, forte chemicals for water and wastewater remedy, and non-water programs.
