Penny Stock Below Rs 5 Vikas Ecotech Ended On Green After Bags Multiple Orders of Rs 500 Mn

Vikas Ecotech, a pioneer in manufacturing specialty polymer compounds and specialty chemicals (additives), has secured a series of substantial orders.

The company in a regulatory filing said that it has successfully garnered orders grossing to more than 1000 tonnes for the niche grades of Thermoplastic Elastomers (TPE), Thermoplastic Rubber (TPR), Thermoplastic Vulcanizates (TPV), Organotin Heat Stabilizers (MTM) and Flame Retardant Aluminum Trihydrate (ATH) compounds.

The cumulative value of these orders surpasses Rs 500 million, with delivery schedules ranging through August-September 2023, the filing said.

"VEL's unwavering commitment to innovation, quality, and customer satisfaction has led to these accomplishments, positioning it as a preferred partner in the material solutions landscape," it said in a statement.

The company has a substantial influx of orders for its top-of-the-line TPR and TPE Compounds, which are well-known for their exceptional versatility and performance, are predominantly utilized in the Footwear Industry, Personal & Healthcare Products and Electrical Wires and Cables sectors.

The company's ability to cater to unique requirements and excellence in delivering tailored solutions have positioned the company as a trusted partner to Original Equipment Manufacturers (OEMs) associated with international brands such as Zara, Next, Geox and Bugatti to name a few from the footwear industry and brands like Patanjali, Chicco, Dabur, Tynor etc. from the Healthcare Segment.

Vikas Ecotech is a New Delhi based company engaged in the business of Specialty Polymers & Specialty Additives and Chemicals for Plastics & Rubbers industries, catering to a wide horizon of applications in Agriculture, Infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods.

On Thursday, the shares of Vikas Ecotech closed on the NSE at Rs 3.05 apiece up by 1.67% over the previous close of Rs 3.00. The stock made a 52-week-high of Rs 4.15 on (19-Jan-2023) and a 52-week-low of Rs 2.35 on (28-Mar-2023).