Vikas EcoTech shares rises 5% after collaborating with Saudi's King Khalid University

Vikas EcoTech's shares rallied 5 per cent during the early trade on Tuesday after the company announced its collaboration with King Khalid University after the trading hours on Monday.

Vikas EcoTech, in a regulatory filing, announced that its research and development (R&D) division has collaborated with Saudi Arabia's King Khalid University. The collaboration is linked to strengthen its R&D activities, technology transfers, and for improving and augmenting its product offerings. The R&D wing of the company recently filed a patent in collaboration with the King Khalid University for the designing of conducting polymer nanocomposites on activated carbon membrane for the removal of bacterial contamination from polluted waste-water, the filing said.

This technology is to develop a conducting polymer nanocomposite- based membrane which will be helpful for the removal of E.coli (Bacteria) and total coliform from wastewater, said the company. "These nanocomposites are economically feasible and can find widespread market usage compared to conventional waste-water treatment methods."

Shares of Vikas EcoTech jumped about 5 per cent to Rs 3.48 on Tuesday, before trading at Rs 3.41 on 9.45 am. The penny stock had settled at Rs 3.32 on Monday. The counter is trading 50 per cent lower from its 52-week high of Rs 6.90, hit on January 31, 2022.

King Khalid University is located in the southwestern part of the Kingdom of Saudi Arabia. In the field of scientific research, it marked its strong presence with the registration of 26 patents.

New Delhi headquartered Vikas Ecotech is engaged in the business of specialty polymers, specialty additives and chemicals for plastics & rubbers industries, catering to a wide horizon of applications in agriculture, infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods.

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