Promoters sold 4,56,03,626 shares in 15 months: Company likely to acquire Land in Madagascar, Africa & Invest up to Rs 3,00,00,000 in Gujarat; details inside!
The stock gave investors a multibagger return of 250 per cent in 3 years and a whopping 1,260 per cent in 5 years.
Vivanta Industries Ltd informed that a Meeting of the Board of Directors of the company is scheduled to be held on Tuesday, June 18, 2024, at 4:30 p.m. inter alia, to consider and approve the following businesses:
- Appointment of Mr. Mukeshkumar Ganeshbhai Kanazariya (DIN: 10451579) as Additional NonExecutive Independent Director.
- Reconstitution of Committees of the Board of Directors as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Appointment of M/s. Rahul Doshi & Co, Chartered Accountants (FRN: 127378W, Mem No: 117160) as Internal Auditor of the Company.
- To acquire Land in Madagascar, Africa as per Section 179 of the Companies Act, 2013.
- To invest up to Rs 3,00,00,000 in purchasing plant & machinery for the land situated in Sanand, Gujarat as per Section 179 of the Companies Act, 2013
- To borrow money up to Rs 20,00,00,000 via Pre-Shipment Credit in Foreign Currency (PCFC).
- Any other business with the permission of the chair.
Earlier, Vivanta Industries Limited informed that the company is shifting its focus from civil construction and engineering to becoming a frontrunner in North Gujarat's agricultural sector and next-generation technologies. Their strategic investment in Trinity Ganesh Private Limited will expand their product base in agricultural commodities, animal feed, and veterinary products while empowering farmers with direct access to drone technology sales and services within APMC markets. This collaboration aims to strengthen the regional agro-industry's value chain by providing farmers with advanced tools to boost productivity and profitability. Furthermore, VIL is making significant strides towards drone technology, IT, AI, robotics, and EV charging stations. They've secured a USD 5 million order for an EV charging and manufacturing unit and partnered with VDRCTL for a drone assembly line and R&D facility in Tanzania. These ventures, coupled with a substantial increase in H1FY24 revenue and profitability, highlight their ambitious growth strategy. With strong financials, a seasoned team, and strategic partnerships, VIL is well-positioned to capitalize on the opportunities presented by these emerging markets.
Also Read: Vijay Kedia bought 24,00,000 shares & DII bought 16,88,963 shares and Promoter sold 5,83,227 shares of this multibagger civil construction stock; hit upper circuit & 52-week high
Today, shares of Vivanta Industries Ltd plunged 1 per cent to Rs 4.02 per share from its previous closing of Rs 4.06 with an intraday high of Rs 4.13 and intraday low of 3.97. The stock’s 52-week high is Rs 6.93 and its 52-week low is Rs 3.44. From March 31, 2023 to June 2024, the promoters of the company sold 4,56,03,626 shares in 15 months.
Vivanta Industries Limited (VIL) provides engineering services. The company offers land survey and procurement, project designing, fiscal studies, funding, and marketing services. Talking about the financials, this civil construction company has a market cap of over Rs 50 crore. The stock gave investors a multibagger return of 250 per cent in 3 years and a whopping 1,260 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.
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