 "Vakrangee hits 52-week high on strategic alliance with Ricoh India")
Vakrangee has rallied to its 52-week high of Rs 174, up 14% on the BSE in early morning trade after the company announced alliance with Ricoh India, to provide Managed Print Service (MPS) on a Pay per Unit (PpP) model to the un-served and under-served geographies in India through various Vakrangee Kendras.
Through this alliance, Ricoh India initially proposes to deploy Multi-functional Printers (MFPs) at various Vakrangee Kendras located PAN India, Vakrangee said in a media release.
With the execution of National MPS agreement with Ricoh, Vakrangee intends to utilize the synergy based on strength of high quality product offering of Ricoh with the support of quality services and expertise of Vakrangee to serve the end users, it added.
At 09:34 AM, shares of Vakrangee were up 10% at Rs 167 on the BSE. A combined 2.98 million shares changed hands on the counter on the BSE and NSE.
Shares of Ricoh India were too rallied 5% at Rs 879 on the BSE as compared to a marginal 0.07% rise in the S&P BSE Sensex.
Through this alliance, Ricoh India initially proposes to deploy Multi-functional Printers (MFPs) at various Vakrangee Kendras located PAN India, Vakrangee said in a media release.
With the execution of National MPS agreement with Ricoh, Vakrangee intends to utilize the synergy based on strength of high quality product offering of Ricoh with the support of quality services and expertise of Vakrangee to serve the end users, it added.
At 09:34 AM, shares of Vakrangee were up 10% at Rs 167 on the BSE. A combined 2.98 million shares changed hands on the counter on the BSE and NSE.
Shares of Ricoh India were too rallied 5% at Rs 879 on the BSE as compared to a marginal 0.07% rise in the S&P BSE Sensex.
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