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Vikas EcoTech advances on receiving Rs 8.37 crore from Oriental Insurance Company

Vikas EcoTech is currently trading at Rs. 4.14, up by 0.14 points or 3.50% from its previous closing of Rs. 4.00 on the BSE.

The scrip opened at Rs. 4.17 and has touched a high and low of Rs. 4.17 and Rs. 4.05 respectively. So far 5971 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 1 has touched a 52 week high of Rs. 17.75 on 21-Sep-2018 and a 52 week low of Rs. 3.29 on 27-Aug-2019.

Last one week high and low of the scrip stood at Rs. 4.45 and Rs. 3.81 respectively. The current market cap of the company is Rs. 113.36 crore.

The promoters holding in the company stood at 32.96%, while Institutions and Non-Institutions held 8.90% and 58.14% respectively.

Vikas EcoTech has received an amount of Rs 8.37 crore towards its insurance claim filed with Oriental Insurance Company for the losses incurred on account of fire in its Rajasthan factory viz. Unit II of RIICO Industrial Area, Shahjahanpur, Alwar in the state of Rajasthan.

The Company had filed an insurance claim of Rs 16.31 crore with Oriental. The Company plans to approach the appropriate Appellate authority for an appeal against the reduction of its claim and is expecting a favourable judgment.

Vikas Ecotech is an emerging player in the global arena of high-end specialty chemicals. An integrated, multi-specialty product solutions company, it produces a wide variety of superior quality, eco-friendly additives and rubber-plastic compounds.

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