Tuesday , September 21 2021

Vakrangee soars on renewing agreement with Indian Bank

Vakrangee is currently trading at Rs. 40.75, up by 1.45 points or 3.69% from its previous closing of Rs. 39.30 on the BSE.

The scrip opened at Rs. 40.00 and has touched a high and low of Rs. 40.95 and Rs. 39.75 respectively. So far 41650 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 69.85 on 31-Dec-2020 and a 52 week low of Rs. 24.40 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 41.95 and Rs. 38.45 respectively. The current market cap of the company is Rs. 4163.46 crore.

The promoters holding in the company stood at 42.60%, while Institutions and Non-Institutions held 16.07% and 41.32% respectively.

Vakrangee has renewed its agreement with the Indian Bank to provide BC banking and end to end Financial Inclusion (FI) services for ‘Pan India’ at Vakrangee Kendra outlets. Vakrangee has emerged as one of the leading Financial Inclusion player with more than 13,000 Banking BC points and 4th Largest ATM operator in Rural India with more than 5,400+ ATMs.

The company is well on track to increase the operational NextGen store footprint from current 11,900 to 25,000 stores by March 2022. This renewal with Indian Bank would ensure sustainable growth and activation of Banking BC point services at all Kendras across the country. Vakrangee will be now able to provide banking services to all its franchisees across India, further strengthening the financial inclusion drive in the country.

Vakrangee is the unique technology driven company focused on building India’s largest network of last mile retail outlets to deliver real time banking & Financial Services, ATM, insurance, e-governance, ecommerce and logistics services to the un-served rural, semi-urban and urban markets.

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