Vikas WSP rises 27% in a week
Vikas WSP, the largest guar gum polymers producer in the country, made a great comeback on the Bombay Stock Exchange (BSE) gaining more than 27 per cent last week.
By PTI |
MUMBAI: Vikas WSP, the largest guar gum polymers producer in the country, made a great comeback on the Bombay Stock Exchange (BSE) gaining more than 27 per cent last week.
Vikas WSP resumed trading on August 27 following six years of suspension and hit the upper circuit on all trading days of the week.
'Upper circuit' is applied on a stock by the exchange when it reaches the permissible daily gains fixed for that particular stock. For Vikas WSP, it is five per cent.
The scrip gained 27.56 per cent during the week to close at Rs 44.01 on Friday. The book value of the shares was Rs 34.5 for shares of Re 1 face value when it resumed trading on Monday.
The Haryana-based Vikas WSP, listed only on the BSE, was suspended from trading in October 2001, pending investigations against allegations of misreporting its financial performance in the year 2000 in a newspaper.
After getting a clean chit during the investigations, the company was allowed to resume trading on the stock exchange.
Last Monday, soon after trading in the company's scrip resumed, its share price hit the upper circuit with five per cent upper limit allowed by the exchange and finally it closed locked in the upper circuit at Rs 36.22.
At the time of suspension, Vikas WSP's Rs 10 share had a market price of Rs 1,500 to Rs 1,550. The company has a share capital of 11 crore.
There was a huge demand for the stock throughout the week on account of its long absence from the market. Its potential to appreciate in the short run is high as the company was functioning normally but for the suspension of trading of its shares on the bourse.
Vikas WSP resumed trading on August 27 following six years of suspension and hit the upper circuit on all trading days of the week.
'Upper circuit' is applied on a stock by the exchange when it reaches the permissible daily gains fixed for that particular stock. For Vikas WSP, it is five per cent.
The scrip gained 27.56 per cent during the week to close at Rs 44.01 on Friday. The book value of the shares was Rs 34.5 for shares of Re 1 face value when it resumed trading on Monday.
The Haryana-based Vikas WSP, listed only on the BSE, was suspended from trading in October 2001, pending investigations against allegations of misreporting its financial performance in the year 2000 in a newspaper.
After getting a clean chit during the investigations, the company was allowed to resume trading on the stock exchange.
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Last Monday, soon after trading in the company's scrip resumed, its share price hit the upper circuit with five per cent upper limit allowed by the exchange and finally it closed locked in the upper circuit at Rs 36.22.
At the time of suspension, Vikas WSP's Rs 10 share had a market price of Rs 1,500 to Rs 1,550. The company has a share capital of 11 crore.
There was a huge demand for the stock throughout the week on account of its long absence from the market. Its potential to appreciate in the short run is high as the company was functioning normally but for the suspension of trading of its shares on the bourse.
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