The Management is changing the business of Vikas Granaries Ltd and entering into a new niche market of Proppants manufacturing which ONGC and other oil and gas drillers are importing currently. The company has planned to manufacture Proppants near Jodhpur.
The Proppants are in high demand worldwide including USA, which import a lot of proppants from China.
Evaluating the proppant and granite business lucrative, company has planned to change the name of the company and accordingly the name and the business of the company would be changed from food industry to Minning Industry.
Shares of VIKAS GRANARIES LTD. was last trading in BSE at Rs.11.1 as compared to the previous close of Rs. 10.58. The total number of shares traded during the day was 30898 in over 45 trades.
The stock hit an intraday high of Rs. 11.1 and intraday low of 10.06. The net turnover during the day was Rs. 338982.