Vikas Ecotech- Breakout on weekly chart

sanjeevbahl Updated   
Vikas Ecotech- Company is into specialty chemical and polymers.

Market Cap: INR 555 Crores
PE: ~ 17

Vikas EcoTech Ltd, the New Delhi-based manufacturer of specialty polymers, compounds and additives, had commenced the construction of phase I of its manufacturing plant and innovation center at Dahej, Gujarat in June'16. To be built with an investment of Rs30 crores, the plant will produce 6,000 MT of organotin stabilisers (methyl tin mercaptide or MTM ) and 5,000 MT of specialty polymer compounds annually. This is Vikas Ecotech's third manufacturing plant after Rajasthan and Jammu & Kashmir plants, the latter being currently integrated with the first to drive economies of scale.

Organotin compounds, which are chemicals based on tin with hydrocarbon substituents, are used as stabilisers in polyvinyl chloride (PVC) industry. The demand for organotin stabilisers – lead-free alternative additives – is witnessing a rise both in India as well as globally.

Company is targeting to commence commercial production from April 2017. The company expects to generate an additional revenue of Rs300 crore from the expansion at Dahej.

Target price: INR39

Disclosure: Not registered with SEBI. The above is only for study purpose.
Comment: Hold this with patience


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