Vikas Lifecare touches roof on receiving patent for Innovative Multi-Layered Plastic Recycling Process
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Vikas Lifecare is currently trading at upper limit of Rs. 5.97, up by 0.28 points or 4.92% from its previous closing of Rs. 5.69 on the BSE.
The scrip opened at Rs. 5.75 and has touched a high and low of Rs. 5.97 and Rs. 5.75 respectively. So far 698371 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 1 has touched a 52 week high of Rs. 7.92 on 23-Jan-2024 and a 52 week low of Rs. 2.66 on 24-May-2023.
Last one week high and low of the scrip stood at Rs. 6.25 and Rs. 5.65 respectively. The current market cap of the company is Rs. 967.59 crore.
The promoters holding in the company stood at 11.40%, while Institutions and Non-Institutions held 0.02% and 88.58% respectively.
Vikas Lifecare (VLL) has received a new patent from the Indian Patent Office, Government of India, for its innovative process for Recycling of Multi-Layered Plastics and converting these into granules and products for Societal Applications. The Patent was granted on February 21, 2024.
The company’s patented innovation focuses on utilizing multi-layered plastics to design materials for making tiles and various products like pallets for the general public, thereby providing societal benefits. The process involves two approaches to recycle multilayered plastics. The first method separates the different layers of plastics in multi-layered plastics using a chemical route and utilizes the separated layers for end applications in making granules. The second method recycles multi-layered plastics as-is by giving them specific treatment, then making granules containing all three layers of plastics. These granules are then used to make different end products such as paver interlocking tiles and floor tiles.
This patent underscores the company’s commitment to innovation and sustainability. The company continues to explore new avenues to contribute positively to society and the environment through its research and development efforts.
Vikas Lifecare is an ISO 9001:2015 certified company, conventionally engaged in manufacturing and trading of Polymer and Rubber compounds and Specialty Additives for Plastics, Synthetic & Natural Rubber.
