Shares of Vikas Ecotech Ltd rose by 5.03 per cent, reaching an intraday excessive of ₹3.34 per share in comparison with its earlier closing of ₹3.18. The inventory’s 52-week vary spans a excessive of ₹5.63 and a low of ₹3.05.
The corporate carried out a gathering on Wednesday, January 1, 2025, at its Registered Workplace in Delhi. Key selections included the approval of elevating funds as much as ₹200 crore by numerous channels equivalent to QIP, FCCB, public choices, or rights points to drive future development. Moreover, the assembly sanctioned a rise within the firm’s Licensed Share Capital from ₹200 crore to ₹235 crore, requiring an modification to Clause V of its Memorandum of Affiliation.
The corporate additionally introduced that its Managing Director, Vikas Garg, will step down from his place efficient December 31, 2024.
“1, Vikas Garg, hereby formally resign from my place as Managing Director, in addition to from my roles as Chairman/member of varied Board Committees, efficient on the shut of enterprise hours on December 31, 2024. This choice is a part of a restructuring of roles inside the promoter group entities,” Garg stated in a letter.
Concerning the firm
Vikas Ecotech, a Delhi-based producer of specialty chemical substances and polymers, serves various industries with its vary of stabilizers, plasticizers, and components. Distinguishing itself within the international market, it’s the solely Indian firm manufacturing organotin stabilizers, backed by in-house R&D capabilities. The corporate is actively rising by strategic acquisitions, together with a plasticizer enterprise and a metal firm to help infrastructure initiatives.
As per the quarterly outcomes, web gross sales surged by 47 per cent to ₹89.23 crore, whereas web revenue rose by 61 per cent to ₹10.38 crore in Q2FY25 in comparison with Q2FY24. For the half-yearly outcomes, web gross sales grew by 61 per cent to ₹190.29 crore, and web revenue soared by 311 per cent to ₹13.23 crore in H1FY25 in comparison with H1FY24.
The corporate has a market capitalization of ₹593 crore. The inventory has risen by 9.51 per cent from its 52-week low of ₹3.05 per share. This penny inventory is price monitoring for traders.
