Vikas Ecotech Limited (VEL) has acquired Shamli Steels through a share swap, issuing 38 million new shares at Rs 4.20 each to Shamli Steels' shareholders. This valued Shamli Steels at Rs 160 crore and made it a wholly-owned VEL subsidiary. Separately, VEL's subsidiary Vikas Organics secured a Rs 165 million export order for vinyl plasticizers, while VEL is upgrading VOPL's facilities to boost production and expand its global market presence.
The company has a market cap of over Rs 700 crore. The stock’s 52-week high is Rs 5.63 and its 52-week low is Rs 2.82. The stock is up by 54 per cent from its 52-week low of Rs 2.82 per share. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.
