Vikas Lifecare Share Price Hits Upper Circuit After Recycling Major Bags Back-to-Back Orders. Image Source: Canva
Vikas Lifecare share price hit the upper circuit in Wednesday’s trading session after the company bagged back-to-back mega orders. The stock price of the recycling major firm hit the 5 per cent upper limit band after the company reported that its Karnataka processing facility in its Agro Business Division received fresh orders for premium nuts valued at about Rs 110 million. The orders are likely to be completed within the first quarter of the current fiscal, the company informed the exchanges.
The Agro Business Division of the company has set a target to achieve Rs 4500 million during the current fiscal year, as compared to the Rs 3600 million achieved during 2023-24, targeting a 20 per cent growth YoY. “We are upbeat about the performance in the Agro Business. Earlier this month, the Agro Business Division had secured confirmed orders for Premium Rice Valued at Rs 500 million,” noted Dr. Sandeep K Dhawan, the Managing Director.
The company had recently announced bagging a deal worth approximately Rs 500 million, in the premium and organic rice sectors. Among the current orders, Rs 400 million are designated for premium rice varieties, while the remaining Rs 100 million represent orders for Organic Breeds of Rice.
Headquartered in Delhi, Vikas Lifecare specializes in recycling plastic waste to manufacture pallets and interlocking tiles for various industrial applications, including construction. Earlier this year, the company made headlines with its acquisition of a 60 per cent stake in Dubai-based SKY 2.0 Club for USD 79 million (around Rs 650 crore). SKY 2.0 Club stands as the largest nightclub in the Middle East and Asia, underscoring Vikas Lifecare’s strategic expansion initiatives.
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