Small-cap stock below ₹5: Penny stock jumps after this order book update. Do you own?

Small-cap stock below ₹5: Vikas Ecotech shares have been in uptrend since early morning deals. Vikas Ecotech share price today opened flat but soon attracted buying interest by Indian stock market bulls. After buying interest shown by stock market investors, the small-cap stock started to gather momentum and went on to hit intraday high of ₹3.20 per share on NSE, logging around 5 per cent intraday rise within few minutes of stock market's opening bell today.

Order book update

The small-cap stock gathered buying interest after its exchange communication in which the penny stock informed Indian stock market bourses about the latest order worth ₹20 crore. The small-cap company informed Indian bourses that it has received an order for supplying Coal to one of the Prestigious Cement Manufacturers namely ‘Prism Johnson Limited’ (Cement unit II) promoted by the Rajan Raheja Group. The supplies for this order will start within the next 15 days and will be completed by 31’October 2023. The order is worth ₹20 crore, small-cap stock below ₹5 informed in its exchange filing.

Speaking on the order, the small-cap company said, "Vikas Ecotech Limited has been actively exploring business opportunities in the Energy Segment including the conventional sources of energy being used in India as well as the Renewable and Green Energy Segments."

The company ventured into the conventional energy market with supplying of Coal which has is being used as major source of energy in India in order to make space for setting a firm foot in the Energy business segment, while the company is parallelly exploring opportunities amongst various modern and futuristic Clean, Green and Renewable Energy Materials and Products including Solar, Gas, and the latest Hydrogen Fuel Cells as well.

The New Delhi based company engaged in the business of Specialty Polymers & Specialty Additives and Chemicals for Plastics & Rubbers industries, catering to a wide horizon of applications in Agriculture, Infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods.

The small-cap stock below ₹5 has a market cap of around ₹355 crore. The penny stock is available for trade on both NSE and BSE. Its current trade volume on NSE is over 1.70 crore and more than two hours of trade is still left in Friday deals. Its 52-week high is ₹4.15 apiece on NSE whereas its 52-week low on NSE is ₹2.35 per share.

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