Vikas EcoTech announced to acquire 100 per cent equity in plasticizer manufacturing business in an all-cash deal, which is valued at an enterprise value Rs 27 crore.
An analysis of institutional ownership in penny stocks, as defined by those with market capitalisation below Rs 1,000 crore and share price below Rs 25, shows that FIIs hold over 10% stake in a dozen such counters. Out of them, 7 have given double-digit returns in FY24 so far.