Vikas Proppant & Granite announced that the company management has converted the business of the company and entered into a new niche market of Proppants manufacturing which ONGC and other oil and gas drillers are importing currently. The company has planned to manufacture Proppants and mining of granite and fractured debris near Jodhpur.

Proppants is in high demand worldwide including USA, which import a lot of proppants from China.

The company has received an export order of 75500 tons 40mesh proppant worth Rs 4.48 billion from TATNEFT, Russian Company, which is sixth largest oil and gas drilling company having its operations worldwide. Proppants would be shipped for their operations in Libya and Algeria.

Shares of the company gained Rs 0.04, or 1.69%, to trade at Rs 2.41. The total volume of shares traded was 1,900 at the BSE (9.32 a.m., Monday).