Penny stock below Rs 5: This specialty chemicals company bags largest-ever export order worth Rs 165 million from Yusuf Bin Ahmed Kanoo Group

The stock is up by 57 per cent from its 52-week low of Rs 2.38 per share.  

Vikas Ecotech Limited (VEL) announced that its wholly-owned subsidiary (Vikas Organics) has received the largest-ever export order for vinyl plasticizers worth Rs 165 million approx. 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 the De-Bottlenecking of the manufacturing process 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, a leading manufacturer of specialty chemicals and polymers in Delhi, caters to a wide range of industries with its stabilizers, plasticizers, and other additives. They are a unique player in the global market, being the only Indian manufacturer of organotin (a key stabilizer) with in-house R&D, and are constantly expanding through acquisitions, like a recent plasticizer business and a steel company for infrastructure projects. Vikas Ecotech also includes Vikas Organics, a well-established plasticizer producer with a strong domestic and international presence.

Today, shares of Vikas Ecotech Ltd gained 3.6 per cent to an intraday high of Rs 3.75 per share from its previous closing of Rs 4.77. The company has a market cap of over Rs 500 crore. The stock’s 52-week high is Rs 5.63 and its 52-week low is Rs 2.39. The stock is up by 57 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.