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The Indian stock market has shown robust performance recently, with an impressive 8% rise over the past week and a significant 43% climb over the last year. In this context, companies with high insider ownership can be particularly compelling, as they often signal strong confidence from those closest to the company's operations and future prospects.
Multibagger stock: VA Tech Wabag shares, which closed at Rs 234.95 on May 27, 2022 rose to a high of Rs 989.50, rising 321% during the period. The benchmark BSE small cap index has risen 86% during the period.
VA Tech Wabag stock slipped over 8% to Rs 914.80 in the current session. Market cap of the firm fell to Rs 5869.53 crore.
The Indian market has experienced a notable upswing over the past year, increasing by 39%, despite a recent 1.5% dip in the last week. In this context, stocks with high insider ownership can be particularly compelling, as they often indicate strong confidence from those closest to the company's operations and future prospects.
The promoters of the company are Rajesh Loomba, Aditya Loomba, Rajesh Loomba Family Trust and Aditya Loomba Family Trust.