Small-cap stock below ₹10: FIIs pick up stake in this penny stock during Q4FY24

Small-cap stock below ₹10: Shares of Vikas Lifecare Ltd have remained in base-building mode for nearly three months. Vikas Lifecare share price hit a 52-week high of ₹8 per share on NSE in the last week of January 2024. However, after climbing to this new 52-week high, the small-cap stock under ₹10 has remained under the sell-off heat in the last three months. However, the penny stock was able to attract foreign institutional investors (FIIs) in the recently ended March 2024 quarter. As per the shareholding pattern of Vikas Lifecare Ltd for the January to March 2024 quarter, FIIs of good repute have picked up a stake in this penny stock. As on 31st March 2024, FIIs hold a 4.35 percent stake in Vikas Lifecare. The FIIs who picked up a stake in Vikas Lifecare include Mauritius-based AG Dynamics Fund.

Vikas Lifecare shareholding for Q4FY24

As per the shareholding pattern of Vikas Lifecare Ltd for the fourth quarter of the financial year 2023-24, FIIs hold 7,17,48,542 Vikas Lifecare shares, which is 4.35 percent of the total paid-up capital of the small-cap company. However, in the December 2023 shareholding pattern, no FII was shown owning shares in the company. This means FIIs picked up a stake in this penny stock during Q4 of FY24.

FIIs owning a stake in Vikas Lifecare Ltd in March 2024 shareholding includes Radiant Global Fund, Eminence Global Fund, and AG Dynamics. Radiant Global Fund owns 2,86,29,500 Vikas Lifecare shares, which is 1.73 percent of the total paid-up capital of the company. Eminence Global Fund owns 2,07,40,500 Vikas Lifecare shares or a 1.26 percent stake in the small-cap company. Likewise, Mauritius-based AG Dynamics Fund holds 2,15,11,857 company shares or 1.30 percent stake in the company.

Vikas Lifecare news

Vikas Lifecare Ltd is in the news these days for receiving a ₹50 crore order in the name of its agro-products division.

Vikas Lifecare informed Indian stock market exchanges about the ₹50 crore order saying, “Vikas Lifecare Limited is pleased to announce that it has secured significant orders for its Agro Products Division. The division has bagged an order for rice, valued at about INR 500 Million, bolstering its presence in the premium and organic rice segments. Of these present orders, INR 400 Million are attributed to premium rice varieties, while the remaining INR 100 Million represents orders for Organic Breeds of Rice.”

The company's Agro Products Division has set an ambitious target of INR 4500 Million for the current FY, as compared to INR 3600 Million achieved in the preceding FY, targeting a 20+ % Growth on YoY Basis.

Recently, Vikas Lifecare Ltd declared incorporation of its wholly owned subsidiary saying, "We hereby wish to inform that Department of Economic and Tourism, Dubai

UAE(the DET), Government of Dubai, has approved the incorporation of a wholly owned subsidiary of the Company in the name of “VIKASH LIFE CARE INVESTMENT MANAGEMENT L.L.C” and issued a Certificate of Incorporation for the same."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.