A penny inventory, Vikas Lifecare, surged nearly 10 per cent in intraday commerce on BSE on Friday, December 6, in an in any other case weak market. The inventory was witnessing robust investor curiosity as its commerce quantity was over 1 crore round 12:05 pm on Friday. Vikas Lifecare share value opened at ₹4.40 towards its earlier shut of ₹4.32 and surged as a lot as 9.7 per cent to the extent of ₹4.74. Round 12:05 pm, the inventory traded 5.8 per cent increased at ₹4.57 apiece. Fairness benchmark Sensex was nearly flat at 81,816 at the moment.
The penny inventory swung to motion a day after it introduced the institution of a brand new manufacturing facility underneath the Rajasthan Funding Promotion Scheme (RIPS).
In an change submitting on Thursday, December 5, the corporate mentioned: “Vikas Lifecare is happy to announce the institution of a brand new, state-of-the-art manufacturing facility within the Shahjahanpur RIICO Industrial Space, spanning 20,000 sq. ft, underneath the Rajasthan Funding Promotion Scheme (RIPS).”
“Scheduled to begin operations in December 2024, this facility will concentrate on manufacturing superior commodity compounds, together with EVA, ATH, Thermoplastic Rubber, and Thermoplastic Elastomer. This strategic initiative reaffirms the corporate’s dedication to leveraging RIPS incentives for driving profitability and fostering regional growth,” mentioned the corporate.
Vikas Lifecare manufactures and trades polymer and rubber compounds and speciality components for plastics, artificial and pure rubber.
Its subsidiary, Genesis Gasoline Options Pvt. Ltd., is engaged within the enterprise of good gasoline meters being provided to all the main gasoline distribution corporations for home and business customers.
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