Promoter Bought 7,00,00,000 Shares In Q1: Penny Stock Under Rs 10 Jumps Over 8 Per Cent From Intraday Low; Do You Own It?
From Rs 4.14 per share (52-week low) to Rs 5.02 per share, the stock is up by 21.25 per cent.
On Friday, one of the Top Gainers on BSE, shares of Vikas Lifecare Limited jumped over 8 per cent to an intraday high of Rs 5.02 per share from its intraday low of Rs 4.62 per share with a 1.01 times spurt in volume. The stock’s 52-week high is Rs 7.92 while its 52-week low is Rs 4.14. The company has not made any significant announcements of late. Hence, the rally in the share price could be driven purely by the market forces.
Vikas Lifecare Limited, a dynamic and diversified business entity, is renowned for its robust operations in polymer and rubber compounds along with speciality additives for plastics and rubbers. As an ISO 9001:2015 certified company, it serves as a Del-Credere agent for ONGC Petro Additions Limited, and its subsidiary Genesis Gas Solutions Pvt. Ltd. is a leader in smart gas metering in India. The company has recently broadened its portfolio to include FMCG, agro-products, and infrastructure, further diversifying into entertainment with a focus on film production. Listed on both NSE and BSE, Vikas Lifecare continues to expand its business horizons aggressively.
Earlier, the company forged a strategic alliance with the Defence Electronic Applications Laboratory (DEAL), IIT Delhi, and CSIR-NPL to jointly develop cutting-edge nanocomposites for shielding electronic devices from electromagnetic interference (EMI). This collaboration formalized through a Non-Disclosure Agreement, aims to create innovative solutions applicable across commercial, military, scientific, and communication sectors, addressing the growing demand for effective EMI protection in various electronic equipment.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
The primary objective of this partnership is to design and develop advanced carbon fiber and MWCNT/graphene nano ferrites composites specifically for EMI shielding applications. The focus will be on creating nano-composites using exfoliated graphite blended with MWCNT in a polymer matrix or carbon fibers polymer composites, incorporating Ag nanoparticles and Copper nanoparticles to enhance the electrical and thermal conductivity of the composites. By fine-tuning processing and material parameters, the collaboration aims to produce viable, high-performance nanocomposite products suitable for use in a wide array of commercial, military, and scientific electronic devices and communication instruments.
In June 2024, the promoters of the company bought 7 crore shares and increased their stake to 14.21 per cent compared to 11.75 per cent in March 2024. The company has a market cap of over Rs 800 crore. From Rs 4.14 per share (52-week low) to Rs 5.02 per share, the stock is up by 21.25 per cent. Investors should keep this penny stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.