Vikas Ecotech Limited announces further repayment of debt

Vikas Ecotech Limited has paid back Rs. 60 million today, taking the total amount of bank-debt reduced in the Phase-II to Rs. 360 million and the overall bank-debt reduction to Rs. 580 million till date.

The Company had initiated the Second Phase of the Debt Reduction Program, on persistence and support extended by the promoters of the Company.

After completion of both these phases, and intended additional bank-debt repayment, bank-debt shall get reduced by approx. 55% from the peak exposure, paving the way towards becoming a 'ZERO Debt Company' in 2023.

Shares of Vikas EcoTech Limited was last trading in BSE at Rs. 6.12 as compared to the previous close of Rs. 5.95. The total number of shares traded during the day was 3011500 in over 2439 trades.

The stock hit an intraday high of Rs. 6.24 and intraday low of 5.66. The net turnover during the day was Rs. 18503148.00.

Source : Equity Bulls

Keywords

VikasEcoTech INE806A01020 Repayment BankDebt