Vikas Lifecare zooms as its arm accomplishes incorporation joint venture company with IGL
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Vikas Lifecare is currently trading at Rs. 6.97, up by 0.51 points or 7.89% from its previous closing of Rs. 6.46 on the BSE.
The scrip opened at Rs. 7.05 and has touched a high and low of Rs. 7.40 and Rs. 6.96 respectively. So far 17656449 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 7.40 on 12-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. 7.40 and Rs. 5.98 respectively. The current market cap of the company is Rs. 1088.87 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’s subsidiary company -- Genesis Gas Solutions has accomplished the incorporation of ‘IGL Genesis Technologies’ the joint venture company with Indraprastha Gas (IGL). IGL Genesis Technologies has been incorporated with equity participation from IGL and Genesis Gas Solutions in the ratio of 51:49 respectively. With the incorporation of ‘IGL Genesis Technologies’, Genesis Gas Solutions has completed the inducement of its share of the Paid-Up capital amounting Rs 18.1 crore in the newly incorporated entity.
The JV Company ‘IGL Genesis Technologies’ will manufacture Diaphragm Gas Meters equipped with IoT technologies like LoRa, LoRaWAN, Bluetooth, NFC, NB-IoT etc. IGL Genesis Technologies will also indigenously develop the Softwares and Interface Programmes with in-built Smart Analytics, Dashboards and Predictive Maintenance Protocols, and Allied Systems for the Smart Meters manufactured.
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.
