Vakrangee Ltd Share Price – NSE  /  BSE

Miscellaneous, Small Cap

Vakrangee has allotted 5 lakh equity shares on conversion of warrants on 22 April 2024. Consequently, the paid up equity share capital has increased to Rs. 106,00,13,290/- consisting of 106,00,13,290 equity shares of Re. 1/- each.

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The headline equity benchmarks traded in negative terrain with substantial losses in morning trade. The Nifty traded below 22,650 mark. Nifty Financial Services shares declined after rising in the past six consecutive trading sessions.

At 10:30IST, the barometer index, the S&P BSE Sensex, was declined 418.45 points or 0.54% to 74,632.49. The Nifty 50 index slipped 107.75 points or 0.47% to 22,646.05.

The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 0.28% and the S&P BSE Small-Cap index added 0.08%.

The market breadth was negative. On the BSE, 1,597 shares rose and 1,893 shares fell. A total of 161 shares were unchanged.

The Asian Development Bank (ADB) on Thursday raised India’s GDP growth forecast for the current fiscal to 7% from 6.7% earlier, saying the robust growth will be driven by public and private sector investment demand and gradual improvement in consumer demand.

New Listing:

Shares of Bharti Hexacom were currently trading at Rs 802.20 at 10:19 IST on the BSE, representing a premium of 40.74% as compared with the issue price of Rs 570.

The scrip was listed at Rs 755.20, exhibiting a premium of 32.49% to the issue price.

So far, the stock has hit a high of 824.70 and a low of 755.20. On the BSE, over 10.33 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Financial Services index fell 0.75% to 21,554.30. The index rallied 2.67% in past six trading sessions.

Shriram Finance (down 1.53%), Kotak Mahindra Bank (down 1.16%), HDFC Bank (down 1.12%), SBI Cards & Payment Services (down 0.66%), Bajaj Finance (down 0.65%), HDFC Asset Management Company (down 0.56%), ICICI Bank (down 0.5%), Bajaj Finserv (down 0.46%), State Bank of India (down 0.39%) and REC (down 0.31%) declined.

On the other hand, ICICI Prudential Life Insurance Company (up 1.47%), Muthoot Finance (up 1.35%) and Power Finance Corporation (up 0.37%) edged higher.

Stocks in Spotlight:

Vakrangee advanced 2.23% after the company said that it has entered into agreement with Global One Enterprise (Max TV) for offering subscription based OTT Plans through Vakrangee Kendra networks.

Computer Age Management Services (CAMS) rallied 4.20% after the Reserve Bank of India (RBI), in exercise of the powers conferred on it under the Payment and Settlement Systems Act, 2007, has granted authorisation to the company to operate as an Online Payment Aggregator.

Metropolis Healthcare jumped 4.48% after the company said that its core business revenue (excluding revenue from covid, covid allied tests & PPP contracts) jumped approximately 15% YoY in Q4 of FY24.

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Max TV specializes in providing IPTV/OTT Services in India. The platform features over 300 Indian FTA channels, 1000 international channels and over 200,00 hours of curated content of web series, movies, music, live darshans, documentaries and much more. Furthermore, they have arrangements with ALL the major OTT platforms of India, like Sony, Disney Hotstar, ZEE and over 15 other popular OTT platforms like, Shemaroo, Hungama, etc.

Through this tie-up Max TV will be able to cross sell various bundled plans to unserved & underserved areas of the Country through Vakrangee Kendra networks.

The company said that it will continue to add more products and services and tie-up with leading business partners to offer our customers a one-stop solution to all their needs. We are aspiring to be the most trustworthy physical as well as online convenience store across India and positively moving towards Vakrangee Kendra’s new brand philosophy of ‘AB Poori Duniya Pados Mein’.

Vakrangee has become India's leading last mile distribution platform, offering a comprehensive physical and digital ecosystem across the country. Their services include real-time banking, financial services, ATM facilities, insurance, e-governance, e-commerce (including healthcare services), and logistics. With a focus on rural, semi-urban, and urban markets, Vakrangee is driving financial, social, and digital inclusion for the Indian population.

The company’s consolidated net profit was Rs 1.24 crore in Q3 FY24, steeply higher than Rs 0.13 crore in Q3 FY23. Net sales increased 4.9% YoY to Rs 49.15 crore in Q3 FY24.

The scrip fell 0.16% to ends at Rs 24.23 on Thursday,11 April 2024.

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Net profit of Vakrangee rose 853.85% to Rs 1.24 crore in the quarter ended December 2023 as against Rs 0.13 crore during the previous quarter ended December 2022. Sales rose 4.90% to Rs 51.56 crore in the quarter ended December 2023 as against Rs 49.15 crore during the previous quarter ended December 2022.

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