Vikas Lifecare, a penny stock priced below ₹5, saw a notable rise in its share price during intraday trading on Friday, December 20, 2024. The stock opened at ₹4.44 on the Bombay Stock Exchange (BSE), slightly up from the previous day’s close of ₹4.43. It continued to climb, reaching an intraday high of ₹4.51, marking a gain of 1.8%, despite broader market weakness.
Recent Performance & Fundraise News
Over the last month, Vikas Lifecare’s stock has gained more than 6%, bouncing back from a 52-week low of ₹4.05 in November 2024. On Friday, the company’s board approved a significant fundraising initiative aimed at boosting its long-term resources.
The company plans to raise up to ₹200 crore to fund both organic and inorganic growth opportunities, particularly in its current operations and adjacent sectors. This fundraising will be done through various channels, including a Qualified Institutional Placement (QIP), Foreign Currency Convertible Bonds (FCCB), further public offering, rights issues, or any other permissible methods.
Expansion and New Manufacturing Facility
In addition to the fundraising move, Vikas Lifecare recently announced the establishment of a new manufacturing facility under the Rajasthan Investment Promotion Scheme (RIPS). The facility will span 20,000 square feet in the Shahjahanpur RIICO Industrial Area and specialize in the production of advanced commodity compounds, including EVA, ATH, thermoplastic rubber, and thermoplastic elastomers.
Vikas Lifecare, an ISO 9001:2015 certified company, is primarily engaged in the manufacturing and trading of polymer and rubber compounds, as well as specialty additives for plastics and rubber.
The stock’s positive movement comes amid the company’s strategic plans to expand its manufacturing capabilities and increase funding for growth, signaling potential long-term value.
