Penny stock under ₹5: Vikas Lifecare shares rise nearly 6% after signing technology transfer agreement with DRDO

Penny stock Vikas Lifecare Limited climbed nearly 6 per cent during intra-day trading on Monday, December 16, following the announcement of a strategic partnership with the Defence Research and Development Organisation. The company said it has entered into a Technology Transfer Agreement with DRDO’s Advanced Systems Laboratory to manufacture and market bio-degradable plastics, a development that aligns with the rising demand for sustainable packaging solutions. "Vikas Lifecare Limited has entered into a Technology Transfer Agreement with the Advanced Systems Laboratory, DRDO, Ministry of Defence, Government of India, Hyderabad. On the financial front, Vikas Lifecare’s net profit declined by 67.35 per cent to ₹2.39 crore in the quarter ended September 2024, compared to ₹7.32 crore in the corresponding quarter of the previous year.