Penny stock gains over 3% as its R&D division collaborates with Saudi University

Market


With a market valuation of 320.02 Cr, Vikas Ecotech Limited is a small-cap business that operates in the specialty chemical industry. A leading supplier of premium specialty chemicals to clients worldwide is Vikas Ecotech. Its products meet a wide range of demands in a variety of international industries, from agriculture, automotives, cables, electricals, hygiene, healthcare, polymers, packaging, and textiles to footwear.

At the time of writing this copy the shares of Vikas Ecotech Ltd were trading at a market price of 3.40 apiece on the BSE, up by 3.03%. The total volume was at 4,926,432 shares compared to the 20-Day average volume of 3,990,440 shares. Following the company’s announcement that its R&D division partners with King Khalid University, Abha 62529, Saudi Arabia, the shares saw a bullish run. Vikas Ecotech said that this joint collaboration will aid to strengthen its R&D Activities, Technology Transfers, for improving and augmenting its product offerings. In its drive of offering better and more reasonably priced, technologically advanced products, Vikas Ecotech discovers another active and prominent partner through such a collaboration, among many other major business values.

Vikas Ecotech’s R&D division is a DSIR-recognized facility under the Ministry of Science and Technology Government of India, and is engaged in several cutting-edge scientific research projects in many different disciplines that aim to enhance the environment, human welfare, and promote sustainability in general.

In cooperation with King Khalid University, Abha 62529, Saudi Arabia, the company’s Research and Development Wing has submitted a patent on “A Process for the designing of Conducting Polymer Nanocomposites on Activated Carbon Membrane for the Removal of Bacterial Contamination from Polluted Waste Water”. This technology is to develop conducting polymer nanocomposite–based membrane which will be helpful for the removal of E. coli and total coliform from wastewater. These nanocomposites are economically feasible and can find widespread market usage compared to conventional wastewater treatment methods, said Vikas Ecotech in a press note.

Based on the technical outlook of the stock, Ravi Singhal, CEO, GCL said “Vikas eco shares look good until it is above 2.5. So keep a strict stop loss of nearly 2.5 for a target price of 7.5 to 12. Due to penny stock important to keep strict stop loss.”

On the BSE, the stock had touched a 52-week-high of 6.90 on (31/01/2022) and a 52-week-low of 2.94 (26/09/2022). For the quarter ended September or Q2FY23, the company posted a promoter shareholding of 9.29%, FIIs holding of 1.08% and a public stake of 89.64%.


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