Stock below Rs 10: This low PE, high ROE stock has been awarded a contract by Dornier Group!

The Dornier Group, based out of Germany is essentially engaged in the business of a host of engineering services with a focus on the infrastructure development segment. 

Vikas Lifecare Limited has informed the bourses that its material subsidiary Genesis Gas Solutions Private Limited awarded the contract to provide technical advisory for optimization of battery storage systems for distribution grid applications by the Dornier Group GmbH at their ongoing project in Mali, Africa.  

The Dornier Group, based out of Germany is essentially engaged in the business of a host of engineering services with a focus on the infrastructure development segment. 

Genesis is poised to develop service models for India’s upcoming power distribution grid applications to support renewable power projects including battery, solar, wind power for sustainable rural towns in India. Genesis will also work in close affiliation with Dornier Group for other renewable energy and clean energy projects that Dornier is developing in India and the South Asian Region. 

Vikas Lifecare Limited is principally engaged in the business of manufacturing and trading plastic, polymer and chemicals and plastic products.  

Further, as a long-term business strategy, the company most recently started diversifying its business interests beyond raw materials (B2B businesses) and forayed into the B2C segment with a host of consumer products for FMCG, agro and infrastructure segments.   

On Tuesday, shares of Vikas Lifecare rallied more than 8 per cent to record an intra-day high of Rs 5.20 per share on NSE, despite a weak market sentiment.