Penny stock under Rs 5: This micro-cap company to establish world-class research laboratory with NABL Accreditation post debt reduction program!
From 0.67 per share to Rs 3.04 per share, the stock gave multibagger returns of over 350 per cent in 16 years.
Vikas Ecotech Limited takes pride in announcing a groundbreaking initiative aimed at establishing a world-class research laboratory that meets international standards and achieving NABL Accreditation. VEL has taken a significant stride towards enhancing its research capabilities by adding high-end scientific laboratory instruments including FT-IR Spectrometer, X-Rays Diffractometer (XRD), Particle Size Analyser (PSA), Universal Testing Machine (UTM), etc.
The company will acquire state-of-the-art research instruments from global leaders to boost R&D capabilities and uphold research quality. VEL proudly announces a significant advancement in material innovation—its pioneering TPV compound meets the rigorous FR-V0 (Flame Retardant V0) standards, placing it among a select group of global leaders.
This achievement highlights VEL's unwavering dedication to top-tier quality, safety, and innovation. Industry leaders and top switchgear firms have taken notice, leading to substantial orders from esteemed companies like Plastochem, RR Kable Limited, and International Switch Gears. VEL's commitment to innovation and excellence is poised to drive future growth, elevated partnerships, and the creation of forward-looking materials.
Earlier, the company paid back Rs 70 million approx., taking the total amount of bank debt down to Rs 650 million approx. and the overall bank-debt reduction till date from the peak to Rs 962 million. It is pertinent to add that the company has set a goal for becoming a 100 per cent debt-free entity within FY 2023-2024 under a debt reduction program.
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On Monday, shares of Vikas Ecotech Ltd plunged 1.67 per cent to an intraday high of Rs 3.04 per share with a spurt in volume by more than 1.78 times on BSE. From 0.67 per share to Rs 3.04 per share, the stock gave multibagger returns of over 350 per cent in 16 years.
Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.