Share Sale by Promoters: Mr. Vikas Garg, Promoter and Managing Director of the Company, has sold 1,13,79,144 Equity Shares at a p" />
Share Sale by Promoters: Mr. Vikas Garg, Promoter and Managing Director of the Company, has sold 1,13,79,144 Equity Shares at a p" />
Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Vikas Ecotech updates on promoter share sale

Posted On: 2018-11-19 09:46:04

Vikas Ecotech ("VEL" or the "Company") Limited to would like to provide the following strategic Update:

Share Sale by Promoters: Mr. Vikas Garg, Promoter and Managing Director of the Company, has sold 1,13,79,144 Equity Shares at a price of Rs. 14.01 amounting to Rs. 15.94 Crores on 16th Nov., 2018 to raise funds for an upcoming inorganic growth opportunity. The funds raised by the promoter will be utilised in the company via zero interest unsecured loan. The company is currently exploring a strategic inorganic growth opportunity for production of 2-EHTG as well as other asset purchases. The strategic option being explored would significantly reduce the lead time of its primary product, 'Organotins' to the market by ensuring raw material security. The share sale by the promoter has been undertaken to provide company with interim funding to explore the said opportunity.

Q2 FY19 - First Quarter of De-merged Financials:

Vikas Ecotech released its Q2 FY19 results on, 14th Nov., 2018 in which, for the first time company stated the standalone financials of only its Speciality Chemicals business which would henceforth remain in VEL.

VEL received approval from the National Company Law Tribunal ("NCLT") for De-merger of its high-volume trading and recycled compounds business into Vikas Multicorp Limited on 6th Nov., 2018. Consequently in compliance with NCLT's order, company came out with standalone financials of only the Speciality chemicals division for Q2 FY19. Also, the results of Q1 FY19 and for whole year FY18 were restated, stating only the standalone numbers. The results of Q2 and H1 of last year FY18, were not restated in the above mentioned Q2 results and represent consolidated numbers of the demerged division and hence are not comparable with the current FY19 numbers.

Shares of Vikas EcoTech Ltd was last trading in BSE at Rs.14 as compared to the previous close of Rs. 14.62. The total number of shares traded during the day was 7692706 in over 2036 trades.

The stock hit an intraday high of Rs. 16.44 and intraday low of 13.54. The net turnover during the day was Rs. 108317086.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

American Public Life Insurance Company Selects Majesco L&A and Group Core Suite

Flagging off of the first batch of tuna long liner cum gillnet fishing vessels from Cochin Shipyard

Vedanta Ltd denies submitting revised bids for Essar Steel

Huhtamaki PPL Ltd posts net profit of Rs. 17.96 crores in Q4

Linde India Ltd reports PAT of Rs. 15.41 crores in Q4

Tulive Developers Limited board to consider buyback proposal on Feb 22, 2019

GreenPro Certification awarded to Ramco Cements' flagship product - RAMCO SUPERGRADE

Duke Offshore Ltd bags contract from Daewoo - Tata Projects JV

Vyapar Industries Ltd board to consider buyback on Feb 22, 2019

Wipro Positioned as a Leading Player in 'Zinnov Zones for Digital Services in Retail - 2018'

Essel Propack receives Inter Corporate Deposit of Rs. 40 crores

Bajaj Finance announces winners of 'EON'

Gartner Cites Newgen Software as a Niche Player in the 2019 Magic Quadrant for Intelligent BPM Suites

Premier Ltd enters into 10 year lease agreement with Global Icon Projects LLP

ABB wins INR 270 crore order for train technologies from Indian Railways

Nucleus Software's FinnOne Neo Cloud wins the 'Best Cloud Lending Solution' award

HIL Ltd commences commercial production of dry mix plant at Jhajjar, UP

Maharashtra Seamless Ltd pays Rs. 477 crore for acquisition of USTPL

Mac Hotels Ltd Board to consider Interim dividend on March 5, 2019

TCS and Nanoheal to Provide Digital workspace Automation for End-user Devices

IT search at head Divis Laboratories Ltd's premises

TCI Industries Ltd allots 1250 NCRPS

Time Technoplast Ltd receives order worth over Rs. 115 crore

Maruti Suzuki's Compact SUV Vitara Brezza clocks fastest 4 Lakh cumulative sales in under 3 years

BBK Partners with Intellect's Digital Transaction Banking for Digital Transformation of its Transaction Banking Business

Thomas Cook India witnesses a 35% surge in bookings for Japan

Ramco ERP Drives Digital Transformation at PT. Cipta Krida Bahari

63moons filing Rs 10000 cr damage suits against Mr P Chidambaram, Mr K P Krishnan and Mr Ramesh Abhishek

Trident Limited Received 'CSR Leadership Award'

Modulex Construction Technologies Ltd approves corporate guarantee to Give Vinduet Windows and Doors Pvt Ltd

Signet lndustries Ltd secures orders of Rs. 130 crore

Emami Group promoters divest 10% stake for INR 1600 cr in Emami Limited

NLC India Ltd joins hands with NHPC Ltd on power trading

L&T clarifies on action against CTS

Ambuja Cements Limited announces CY2018 results

Cipla wins portion of state ARV tender

Huhtamaki PPL Ltd Board recommends Dividend of Rs. 3 for 2018

Asian Warehousing Limited calls for board meeting on Feb 25, 2019

Cipla and Wellthy Therapeutics announce Partnership

Merck Ltd board to consider dividend on Feb 27, 2019

Ambuja Cements Ltd Board recommends Final Dividend of Rs. 1.50

Wipro launches QuMiC to accelerate migration to Oracle Cloud

Cyient Launches its Connected Equipment Offering for OEMs and Equipment Owners and Operators

V-Mart Retail Limited opens new store in Uttar Pradesh

The Ramco Cements Ltd to contribute Rs. 5 lakhs each for 8 martyrs of Pulwama attack

Satin Creditcare Network Ltd to consider issue of NCDs on Feb 21, 2019

Suditi Industries executes license contract with PSG Merchandising

VBC Ferro Alloys Ltd resumes manufacturing operations at its factory

Tiger Logistics India Ltd strengthens its position in the Auto Logistics Sector

ISG Provider Lens™ Names HCL Technologies a Leader in Development of Next Gen Banking, Financial, and Insurance Applications







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019