Penny Stock under Rs 5 jumps 28 per cent in just 3 days: Heavy buying witnessed in this micro-cap stock following 74 per cent debt write-off!

The stock is up over 70 per cent from its 52-week low of Rs 2.38 per share.

Indian stock markets soared to record highs on Tuesday, with the Sensex and Nifty scaling new peaks. The Sensex climbed to an all-time high of 71,900, while the Nifty touched 21,500. Market sentiment was boosted by positive global cues and expectations of a strong earnings season.

Just as bulls were celebrating newfound peaks, the rug was pulled out from under them in the afternoon as the market swung sharply into a bear market, marked by a heavy sell-off with the Sensex & Nifty-50 Index down over 1 per cent.

While the broader market tumbled, this multibagger penny stock demonstrated resilience, rallying to a 10 per cent upper circuit to Rs 4.10 and closing at 2.68 per cent higher at Rs 3.83 per share. The shares of the company saw a spurt in volume by more than 3 times on BSE. In just 3 trading sessions, from Friday’s closing price of Rs 3.20 to today’s intraday high of Rs 4.10 per share, the stock has gained 28.13 per cent.

The stock name is VIKAS ECOTECH LTD.

Vikas Ecotech Ltd, a New Delhi-based company, is a leader in the field of speciality polymers, speciality additives and chemicals for the plastics & rubber industries. Their products cater to a wide range of applications across diverse sectors, including agriculture, infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, and medical devices.

Vikas Ecotech is on a debt-busting mission! Since 2021, they've sprinted through Rs 118.7 crore of repayments, shrinking their bank debt from a towering Rs 161.2 crore to a mere Rs 4.25 crore today. This remarkable progress showcases their dedication to financial stability and a debt-free future.

Earlier the company received its first patent, awarded for groundbreaking "smart conjugated polymer nanocomposites." This novel technology, designed for superior corrosion protection in harsh saline environments, encases nano-sized particles within a custom-engineered matrix. These "smart" coatings offer key advantages over traditional paints: they're environmentally friendly (VOC-free), self-healing for lasting protection, and outperform in demanding industries like infrastructure, marine, and oil & gas. As the sole Indian manufacturer of Organotin stabilizers and with expertise in Plasticizer production.

Furthermore, the company has secured hefty orders worth Rs 22.5 crore from leading clients like Alert India, Capstan Rubber, and Polycab India. These orders, to be delivered within the next 30-45 days, are a strong vote of confidence in their speciality polymer compounds and promise robust revenue growth.

The stock’s 52-week high is Rs 5.09 and its 52-week low is Rs 2.38. The stock is up over 70 per cent from its 52-week low of Rs 2.38 per share.

Disclaimer: The article is for informational purposes only and not investment advice.