Stock under Rs 5: This micro-cap company receives multiple orders from Indraprastha Gas Limited!
The stock is up by 19 per cent in just 5 trading sessions.
Vikas Lifecare Ltd informed that its wholly owned subsidiary Genesis Gas Solutions Pvt Ltd has been awarded the orders for supplying Ultra Sonic Gas Meters to Indraprastha Gas Limited (IGL), one of India’s leading City Gas Distribution companies. These Ultra Sonic Meters will be deployed to the first-ever project of IGL for custody applications, which is one of the largest business segments for natural gas supply to industrial and commercial applications. Genesis had earlier received orders for ultrasonic meters for Field Regulating Skid (FRS) for city gas distribution companies during April 2023.
Vikas Lifecare Ltd trades and manufactures polymer, rubber compounds and additives for plastics, synthetic & natural rubber, infra, agro products, FMCG products, etc. The shares of the company saw a spurt in volume by more than 2.15 times on BSE.
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On Thursday, shares of Vikas Lifecare zoomed 2.47 per cent to Rs 3.38 per share from its previous closing of Rs 3.30 with a day’s high of Rs 3.59 and a day’s low of Rs 3.31. The stock is up by 19 per cent in just 5 trading sessions.
Talking about the financials, the company has a market cap of Rs 485.68 crore. The net sales increased by 14.56 per cent to Rs 118 crore in Q4FY23 over O4FY22. In FY23, net sales skyrocketed by 58.14 per cent to Rs 476 crore compared to FY22.
Investors should keep an eye on micro-cap stock.