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Global Vectra Helicorp hits 5% upper circuit; inks MoU with Era Group

Under the MoU, GVHL and Era will collaborate on an exclusive basis to develop a marketing and operational plan to reach and provide medical assistance to casualties following accidents and disasters, evacuate critical care patients and engage in other lifesaving missions within India.

March 15, 2016 2:20 IST | India Infoline News Service
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Global Vectra Helicorp hit 5% upper circuit at Rs.81.95 after the company has inked a Memorandum of Understanding (MoU) with Era Group Inc. (Era) to jointly develop Helicopter Emergency Medical Services (HEMS) for the Indian market.

Under the MoU, GVHL and Era will collaborate on an exclusive basis to develop a marketing and operational plan to reach and provide medical assistance to casualties following accidents and disasters, evacuate critical care patients and engage in other lifesaving missions within India. 

The scrip opened at Rs. 81.95 and has touched a high and low of Rs. 81.95 and Rs. 81.4 respectively. So far 15220(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 109.27 crore.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 149 on 08-Jan-2016 and a 52 week low of Rs. 39.9 on 26-Mar-2015. Last one week high and low of the scrip stood at Rs. 78.55 and Rs. 73.2 respectively.

The promoters holding in the company stood at 75 % while Institutions and Non-Institutions held 0 % and 25 % respectively.

The stock is currently trading above its 100 DMA.

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