Vivanta jumps 5% on bagging LoI from Vitaanova Uganda for $5 mn project

NEW DELHI: Shares of Vivanta Industries climbed 5 per cent in early trade on Thursday after the company received a Letter of Intent from Vitaanova Healthcare Uganda, for the execution of a pharmaceutical project for manufacturing tablets, capsules and oral liquids on a turnkey basis.

The scrip rose to a high of Rs 28.40 as against the previous close of Rs 27.05 on the BSE.

The project includes planning, designing, engineering, construction, supply, installation and commissioning of plant and machinery along with obtaining WHO approval, reports said.


The entire project with an aggregate value of $ 5.9 million - around Rs. 44.60 crore- is to be completed within a period of 18 months from the date of signing the contract, Vivanta said in a release on Wednesday.

For the quarter ended September 2021, Vivanta Industries reported a standalone total Income of Rs 0.45 Crore, registering a rise of 893.11 per cent from the previous quarter. The company’s total income clocked in at Rs 0.04 Crore corresponding to a gain of 23.69 per cent from the same quarter a year ago.

Vivanta Industries, which has been involved in turnkey projects for over a decade, primarily caters to conceptualisation and design of pharmaceutical manufacturing plant set-ups, nutraceuticals and ayurvedic manufacturing plant set-ups and medical device manufacturing plant establishment, among others. END