Vikas Ecotech jumps as its arm bags export order for Vinyl Plasticizers
Vikas EcoTech is currently trading at Rs. 3.69, up by 0.07 points or 1.93% from its previous closing of Rs. 3.62 on the BSE.
The scrip opened at Rs. 3.69 and has touched a high and low of Rs. 3.75 and Rs. 3.62 respectively. So far 1084969 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 5.63 on 09-Feb-2024 and a 52 week low of Rs. 2.38 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 3.76 and Rs. 3.60 respectively. The current market cap of the company is Rs. 509.53 crore.
The promoters holding in the company stood at 6.87%, while Institutions and Non-Institutions held 0.01% and 93.12% respectively.
Vikas Ecotech’s (VEL) wholly owned subsidiary -- Vikas Organics (VOPL) has received the largest ever export order for Vinyl Plasticizers worth around Rs 16.50 crore. The order is a variable price contract, which covers regular supplies to the renowned Yusuf Bin Ahmed Kanoo Group of KSA over the coming months.
VEL recently acquired the subsidiary as an ongoing concern with the Plasticizers Manufacturing Business based at Daman, while VOPL is regularly exporting plasticizers to the USA & KSA, the VEL & VOPL teams have been working closely to further boost the global reach actively pushing international business activities targeting Exports of the Niche materials from both VEL & VOPL product offerings.
VEL also has initiated considerable additions and alterations to the existing manufacturing facilities at the VOPL Daman Plant Site, which will facilitate De-Bottlenecking of the manufacturing prowess of the factory while enhancing the processing capacities and on the other hand adding capabilities to produce additional variants of Plasticizers beyond the conventional range of products and materials manufactured by VOPL at the Daman Facility.
Vikas Ecotech is engaged in the business of Speciality Polymers & Specialty Additives and Chemicals for Plastics & Rubbers industries, catering to a wide horizon of applications in Agriculture, Infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods.
