Vikas WSP Ltd has received an export order backed by Letter of Credit for USD 30 million approximately Rs.210 Crore for the export of guar gum powder to be used in oil fields in the Middle East.
The export order received by your company is consisting of the stable viscosity for 18 months yielding viscosity over 45 cps and this is first order of its kind developed by the R&D of your company.
The management of your company is actively pursuing for more orders backed by Letter of Credits and expect more orders in near future. Some export orders are under the process of negotiation.
With the newer guar gum powder product along with funds to be received through preferential issue, the overall scenario and working of the company would improve gradually.
Shares of VIKAS WSP LTD. was last trading in BSE at Rs.10.73 as compared to the previous close of Rs. 10.22. The total number of shares traded during the day was 200260 in over 114 trades.
The stock hit an intraday high of Rs. 10.73 and intraday low of 10.52. The net turnover during the day was Rs. 2147012.