Small Cap Stock Under Rs. 5 Bags Orders From IGL, Shares Jump 14% In 1 Week

On June 15, 2023, Vikas Lifecare Ltd. in a press release informed the exchange that the Company's wholly owned subsidiary company Genesis Gas Solutions Pvt Ltd has been awarded the orders for supplying Ultra Sonic Gas Meters to Indraprastha Gas Limited (IGL).

awarded the orders for supplying Ultra Sonic Gas Meters to Indraprastha Gas Limited (IGL)

The company in a press release has said, "Vikas Lifecare Limited is pleased to share that its wholly owned subsidiary company Genesis Gas Solutions Pvt Ltd has been awarded the orders for supplying Ultra Sonic Gas Meters to Indraprastha Gas Limited (IGL), one of India's leading City Gas Distribution companies. These Ultra Sonic Meters will be deployed to the first ever project of IGL for custody applications, which is one of the largest business segments for Natural Gas supply to Industrial and Commercial applications. Genesis had earlier received orders for ultrasonic Meters for Field Regulating Skid (FRS) for City Gas Distribution Companies during April'2023."

Ultra Sonic Gas Meters

Ultra-Sonic Metering (USM) is the most advanced and accurate means of measurement of flow of liquids and gases. In present day of high gas prices, USM provides insurance against Unaccounted Gas Losses usually incurred at High Flow Points where Ultra Sonic Meters are better on accuracy as compared to the conventional mechanical gas meters. Ultra-Sonic Meters (Due to no moving parts) are entirely maintenance free, and have a wide rangeability thus providing highly reliable and accurate reconciliation and thus very low commercial losses. Genesis had recently partnered with world's most advanced USM sensor and meter manufacturer, SICK A.G., Germany to introduce the FlowSic 500 series Ultra Sonic Gas Meters to Indian City Gas Distribution (CGD) Market. Genesis hopes to multiply these manifolds within IGL as well as other CGDs as Ultra Sonic Technology is pathbreaking and has taken European Union market by a storm, with most gas companies opting for USM technology specially for Industrial and Commercial Customers.

Genesis Gas Solutions Pvt Ltd

Genesis was Co-Founded in 2017 by a team of technopreneur's and finance professionals has been specifically focussed on the evolving City Gas Distribution sector. Genesis pioneers in Smart Gas and Water Metering in India and commands about 20% of the Domestic Gas Metering share in India.

Stock Movement & Performance

On Friday, the share price of Vikas Lifecare closed 3.25% down at Rs. 325 apiece. The stock jumped 14.04% in the last 1 week and 6.56% in the last 1 month, respectively. While, it declined 51.13% in 1 year, in 14.47% in 3 years, respectively.

It recorded the 52 week high on 17 June 2022 at Rs. 6.85 apiece and 52 week low on 24 May 2023 at Rs. 2.70 apiece, respectively.

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