Penny Stock Under Rs 5 Acquires 7.5% Stake In Bharat Express News, FIIs Stake Rises

Small cap company Vikas Lifecare Ltd shares today gained 0.61% after the company informed it has acquired a considerable stake in Benchmark News Lab Private Limited by making an investment of INR 150 Million to acquire 7.5% Equity in the popular News Channel Bharat Express News. Last trading price of Vikas Lifecare shares on BSE is Rs 4.95 apiece. Vikas Lifecare shares witnessed sharp decline of 19% in last 1-month and jumped 50% in last 1-year. More details about Vikas Lifecare given below:

Vikas Lifecare Acquires Stake In Bharat Express News: According to the BSE filing of the company, "Vikas Lifecare Limited is glad to announce that the Company has acquired a considerable stake in Benchmark News Lab Private Limited. The Company has invested INR 150 Million to acquire 7.5% Equity in the popular News Channel Bharat Express News. The company may enhance its stakes in the venture and also the relevant industry during the upcoming Financial Year 2024~25."

Pursuing the Expansion Plans and in order Broadbase it's business interests, Vikas Lifecare recently ventured into the Media & Entertainment Business Industry and has been exploring various options to set a firm foothold in the industry via acquisitions and mergers while also eying to evaluate and start an independent business division to enhance its business in the relevant segment, added the regulatory filing.

Vikas Lifecare Shares Performance: The 52-week high price of Vikas Lifecare share on BSE is Rs 7.92 per share and 52-week low price is Rs 2.66 per share, respectively. The company has a market capitalisation 801.12 crore. The company has a PE 164.00 and EPS (TTM) of 0.06. Vikas Lifecare shares declined over 7% in last 6-months, gave return of 50% in last 1-year, and offered return of 93% in last 3-years.

FIIs Increase Stake In Vikas Lifecare: The stock has backing of FII (Foreign Institutional Investors). As of February 2024, FIIs have 11.05% stake in Vikas Lifecare. AG Dynamic Funds Limited has 3.44% stake in Vikas Lifecare followed by Coeus Global Opportunities Fund (2.58%), Nakshatra Stressed Assets Fund (1.90%), and Radiant Global Fund (1.83%), among others. In January, the stake was 6.8%, according to Trendlyne.

Vikas Lifecare About: Vikas Lifecare Limited (VLL) is engaged in manufacturing and trading of Polymer and Rubber compounds and Specialty Additives for Plastics, Synthetic & Natural Rubber. Polymer & Rubber Commodity (bulk consumption) Compounds and Master-Batches (Manufacturing up- cycled compounds from industrial and post-consumer waste materials like EVA, PVC, PP, PE etc.), contributing to the Environment Protection initiatives from the Government of India and fulfilling the mandated EPR obligations for the conglomerates consuming hundreds of thousands of tons of plastic products and packaging materials.