shares of Vikas Ecotech Ltd. rose 5.03 percent to intraday high 3.34 per share as compared to its previous closing. 3.18. Stock’s 52-week range extends to higher highs 5.63 and minimum 3.05.
The company held a meeting on Wednesday, January 1, 2025 at its registered office in Delhi. Major decisions included approval to raise funds up to Rs. Rs 200 crore raised through various channels like QIP, FCCB, public offering or rights issue to fuel future growth. Additionally, the meeting also approved increase in the authorized share capital of the company. from 200 crores 235 crore, requiring amendment to Clause V of its Memorandum of Association.
The company also announced that its Managing Director, Vikas Garg, will step down from his post with effect from December 31, 2024.
“1, Vikas Garg, am formally resigning from my position as Managing Director as well as from my roles as Chairman/Member of various Board Committees, with effect from the close of business hours on December 31, 2024. will be. This decision is part of a restructuring of roles within the promoter group entities,” Garg said in a letter.
about the company
Vikas EcotechDelhi based producer of specialty chemicals and polymers, serving diverse industries with its range of stabilizers, plasticizers and additives. Distinguishing itself in the global market, it is the only Indian company to manufacture organotin stabilizers, supported by in-house R&D capabilities. The company is actively growing through strategic acquisitions, including a plasticizer business and a steel company supporting infrastructure projects.
According to quarterly results, net sales increased by 47 percent 89.23 crore, while net profit increased by 61 percent. 10.38 crore in Q2FY25 as compared to Q2FY24. For half-yearly results, net sales increased by 61 percent 190.29 crore, and net profit increased by 311 percent 13.23 crore in H1FY25 as compared to H1FY24.
The market capitalization of the company is 593 crores. This stock has increased by 9.51 percent from its 52-week low. 3.05 per share. This penny stock is worth monitoring for investors.
