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The NSE Nifty index closed 36.6 points up at 19342.65
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The NSE Nifty index closed 36.6 points up at 19342.65
The company board of Vikas EcoTech is scheduled to meet on Thursday, August 31, 2023 to issue securities, convertible instruments on preferential basis for an amount not exceeding Rs 35 crore.
Vikas EcoTech has paid back Rs 7 crore in order to reduce bank-debt to Rs 65 crore. The company has reduced its bank-debt substantially from its peak at Rs 96.2 crore.
An analysis of institutional ownership in penny stocks, as defined by those with market capitalisation below Rs 1,000 crore and share price below Rs 25, shows that FIIs hold over 10% stake in a dozen such counters. Out of them, 7 have given double-digit returns in FY24 so far.
Shares of Vikas Ecotech rose about 4 per cent to Rs 3.20 on Tuesday and the company commanded a total market capitalization of more than Rs 350 crore.