Global Vectra Helicorp hits the roof after signing MoU with Era Group Inc

Global Vectra Helicorp was locked in 5% upper circuit at Rs 81.95 at 13:05 IST on BSE after the company announced signing of memorandum of understanding with Era Group Inc to jointly develop helicopter emergency medical services for Indian market.

On BSE, so far 9,751 shares were traded in the counter as against average daily volume of 16,581 shares in the past one quarter. The stock hit a high of Rs 81.95 and a low of Rs 81.40 so far during the day. The stock had hit a 52-week high of Rs 149 on 8 January 2016. The stock had hit a 52-week low of Rs 39.90 on 26 March 2015. The stock had underperformed the market over the past one month till 14 March 2016, falling 3.76% compared with the Sensex's 7.91% rise. The stock also underperformed the market in past one quarter, sliding 12.74% as against Sensex's 1.38% fall.

The small-cap company has an equity capital of Rs 14 crore. Face value per share is Rs 10.

Under the memorandum of understanding, Global Vectra Helicorp and Era Group Inc 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, both the companies said in a joint press release issued after close of trading hours in India yesterday, 14 March 2016. Global Vectra Helicorp and Era Group Inc, will leverage their respective expertise and modern, diverse fleet of helicopters to introduce the offering in India, the two companies said.

Era Group Inc is one of the largest helicopter operators in the world and the longest serving helicopter transport operator in the US with specific experience in helicopter emergency medical services (HEMS) operations. Helicopter emergency medical services represents a modern trauma care delivery system designed to facilitate rapid delivery of medical attention to patients with time sensitive medical conditions and to provide transport to patients who may be inaccessible by other means, along with attendant specialized medical expertise and equipment that may be required prior to or during transport.

Global Vectra Helicorp's net profit jumped 70% to Rs 3.74 crore on 9.5% rise in total income to Rs 92.18 crore in Q3 December 2015 over Q3 December 2014.

Global Vectra Helicorp is India's largest private helicopter company, with a fleet of 27 aircraft, including helicopters manufactured by Bell, Airbus and Finmeccanica.

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