Multibagger stock engaged in the business of manufacturing and trading polymer, rubber compounds, additives for plastics and many more jumped 7 percent from the day’s low after it made a acquisition for Rs. 1 Billion to venture into a new segment.
At 11.56 a.m the shares of Vikas Lifecare Limited were trading at Rs. 6.95, up 3.73 percent from its previous day’s close price of Rs. 6.60 and its market capitalization is Rs. 1003 Crores. It has delivered multi-bagger returns of 105 percent in the last six months.
Vikas Lifecare Limited is going to make a strategic investment of Rs. 1 Billion to acquire a 50 percent stake in Portfolio Managing Events LLC(PME), Dubai, UAE. Through this investment, it intends to venture and explore new exciting opportunities in the entertainment and hospitality business segment.
The acquisition is a share swap deal signed between VLL and the stakeholders at Portfolio Managing Events LLC, evaluated at the enterprise value of INR 2010 Million.
Portfolio Managing Events LLC(PME) is a Global Entertainment company, based in Dubai, UAE. It has been producing concerts and events for notable figures and luminaries such as HRH King Charles, of the UK, The United Nations General Assembly in New York City, the Norwegian Nobel Committee, and the Nobel Peace Prize Laureates.
Vikas Lifecare Limited is engaged in the business of manufacturing and trading polymer, rubber compounds, additives for plastics, synthetic and natural rubber, infra, FMCG products, and agro products.
Its revenue from operations grew by 58.2 percent from Rs. 300.92 Crores in FY22 to Rs. 476.05 Crores in FY23, accompanied by a profit of Rs. 28.95 Crores to a loss of Rs. 15.51 Crores.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
