The Hindu Business Line : Viswas Infrastructure moving up steadily

Viswas Infrastructure (erstwhile Mefcom Agro Industries) has of late been moving up steadily with volumes as the company progressed in transforming its business profile and operation.

The stock price has gone up around 52 per cent in the last one month to finish today at Rs 34.40 on the BSE. Average daily traded quantity over 50,000 shares suggests traders and operators' interest in the stock.

It got its name officially changed through RoC this month, but in the last couple of months it has acquired stake in Kamayani Patients Care (India) Ltd, a profit-making multi-disciplinary specialty hospital at Agra. It also bought over 14.5 per cent stake in Mayur Development & Leasings, a Delhi-based real estate development company.

Sources close to the company management told Business Line that the stake in the real estate company has been bought at a cost of Rs 1.5 crore. Viswas also intends to buy up another 10 per cent, roughly around that price.

Sources further said that Kamayani has formed a special purpose vehicle in partnership with Singapore Gammastar, a Chinese company, to set up and operate a cancer treatment centre at its premises.

The business arrangement entails 16 per cent of the revenue generated by the centre would be shared by the hospital in exchange of the space occupied by the Chinese company.

Viswas Infrastructure also recently acquired equity stake in Gypcrete Building, a company engaged in the manufacturing of building panels.

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