Vikas WSP breaches upper circuit, wins export order

Vikas WSP, in a BSE filing on Friday, said that the company has received export orders worth Rs 119 crore for new guar gum product 'Thermo Guar-30'. The stock of the company breached upper circuit at Rs 10.30 and witnessed a spurt in volume by 2.92 times during Friday’s trade on the BSE. 

Jul 21, 2017 03:07 IST India Infoline News Service

Vikas WSP, in a BSE filing on Friday, said that the company has received export orders worth Rs 119 crore for new guar gum product 'Thermo Guar-30'. The stock of the company breached upper circuit at Rs 10.30 and witnessed a spurt in volume by 2.92 times during Friday’s trade on the BSE. 
 
The company also said that it had developed a new Guar Gum product and had already filed a patent for the aforesaid product.
 
The new product has been accepted for use by Nestle, Unilever Global, and other customers of the company in Germany and China. The company has received export orders for an aggregate amount of Rs 119 crore for shipment in the next two quarters, said the statement.
 
Stock view:
 
Vikas Wsp Ltd is currently trading at Rs 10.3, up by Rs 0.93 or 9.93% from its previous closing of Rs 9.37 on the BSE.
 
The scrip opened at Rs 9.29 and has touched a high and low of Rs 10.3 and Rs 9.25 respectively. So far 364016(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 128.74 crore.
 
The BSE group 'XD' stock of face value Rs 1 has touched a 52 week high of Rs 14.53 on 27-Apr-2017 and a 52 week low of Rs 5.13 on 30-Sep-2016. Last one week high and low of the scrip stood at Rs 9.84 and Rs 9.01 respectively.
 
The promoters holding in the company stood at 24.77 % while Institutions and Non-Institutions held 0.63 % and 74.6 % respectively.
 
The stock is currently trading above its 200 DMA.

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