Shares of Vikas Ecotech gained as a lot as 5 per cent throughout the buying and selling session on Friday after the corporate bagged an order price Rs 20 crore to produce coal from Prism Johnson. The corporate acquired the order from Rajan Raheja Group promoted entity on Friday.
Vikas Ecotech will start the availability inside subsequent 15 days and the order shall be accomplished by October 31, 2023. Prism Johnson, promoted by the Rajan Raheja Group is a listed cement producer. The corporate ventured into the traditional vitality market with the availability of coal which is the most important supply of vitality in India.
Following the announcement, shares of Vikas Ecotech rose 5 per cent to Rs 3.19 on Friday, earlier than giving up its positive aspects partially. The corporate commanded a complete market capitalization of greater than Rs 350 crore. The scrip had settled Rs 3.05 on Thursday.
Vikas Ecotech has been actively exploring enterprise alternatives within the vitality phase together with the traditional sources of vitality being utilized in India in addition to the renewable and inexperienced vitality segments, it mentioned within the alternate submitting submitted with the bourses.
The corporate board of Vikas Ecotech is scheduled to satisfy on Thursday, August 10 to contemplate and approve the outcomes for the quarter ended June 30, 2023.
The New Delhi-based Vikas Ecotech is engaged within the enterprise of specialty polymers for functions in sectors like electrical, infrastructure, packaging, and automotive, amongst others. The corporate had just lately launched funds by means of certified institutional placement, whereas additionally decreasing debt from its books.
Additionally learn: Adani Enterprises, Adani Energy shares in focus after Q1 outcomes
Additionally learn: Tata Energy shares get well 29% from 52-week low; can they hit Rs 300 mark?