Many times there are big reasons for the rise in the shares of the company in the stock market. Shares of small cap company Vikas Lifecare Limited saw a jump of 6 percent on Wednesday. The reason for this boom is the new investment of the company. The board of Vikas Lifecare Limited has decided to invest Rs 250 crore in Kohinoor Foods. As soon as the investors got this news, the shares of the company started flying.
In the information given to the stock markets on behalf of Vikas Lifecare, it has been said, “Keeping in mind the long-term growth of the company, the board has decided to invest Rs 250 crore in Kohinoor Foods Limited. This decision has been taken keeping in mind the product portfolio of the company. Company’s MD SK Dhawan said, “We are pleased to inform that the board has approved investment of up to Rs 250 crore in Kohinoor Foods. This company has a good position in Basmati rice and processed foods industry. One thing is clear from this decision that the company’s focus is on the FMCG sector as well.
In the third quarter of the current financial year, the company’s net revenue increased by 74.59 percent to Rs 34,626.48 crore. The company’s net revenue in the third quarter of the last financial year was Rs 19,833.44 crore. The profit of Vikas Lifecare Limited also increased in the third quarter. During this period the company has earned a net profit of Rs 1129.79 lakh. Whereas in the same quarter of the last financial year, the net profit of the company was Rs 565.29 lakh.
On Wednesday, Vikas Life Care Limited closed at a level of Rs 4.44 per share with a gain of 6.31 per cent. Let us inform, the market cap of the company is Rs 679.01 crore.