The share price of this penny stock surged by 7.2 percent to Rs 4.60 a share after the company announced plans to transform its business operations with a Next-generation tech business including Drones, AI, and Electric Vehicles.
At 12:55 p.m., Vivanta Industries Ltd shares were trading at Rs 4.36 per share, up 1.63 percent from the previous close price, the company belongs to the penny stock category with a market capitalization of Rs 54 crore.
Vivanta Industries Ltd planned to transform its business operations with a focus on Next-Gen Tech Businesses, by venturing into new business verticals including Drone, Information Technology, AI and Robotics, and Electric Vehicle Charging Stations among others.
To expand in the drone business, Vivanta Industries has entered an MOU with Vivanta Drone Research Centre Tanzania Ltd and acquired a 50 percent stake, to set up assembly lines as well as R&D centers. As per the company’s exchange filing.
In April 2023, the company received a USD 5 million work order from US-based EVOCNA. Further, The company expects to commission a Biogas project in Sabarkantha in the near future.
Vivanta Industries shares have gained a multibagger return of 192 percent in a year, A shareholder investment of Rs 1 lakh in the company would be worth Rs 2.92 lakhs in a year.
The company’s revenue gained significantly from 1.25 crore in FY 21-22 to Rs 24.74 crore in FY 22-23. In the same timeframe, Net profit has increased from Rs 0.40 crore to Rs 1.46 crore.
The company has expertise in the conceptualization, design, installation, and commissioning of Pharmaceutical Manufacturing plants, Surgical Projects, solar projects, agro-based fertilizer projects, and many more.
The company promoters reduced their stake from 69.97 percent in Q2FY22 to 39.14 percent in Q2FY23, while retail investors own 60.86 percent of the company.
Vivanta Industries Ltd is the business of trading various steel products, and electronic items and deals in Shares and security. In addition, the company is in the business of P.M.C.C Project Management Consultancy & Turnkey Project and technology supply.
Written by Omkar Chitnis
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