Vakrangee hits new high after board nods on providing GST services

The stock hit a new high of Rs 354, up 5% on BSE in intra-day trade on back of heavy volumes.

Vakrangee hit a new high of Rs 354, up 5% on BSE in early morning trade, after the company said its board has approved to provide the services of GST (Goods and Service Tax) registration, filing of returns, payment and other value added services through Vakrangee Kendra outlets.

The company said it now plans to setup and manage a total of 75,000 “Vakrangee Kendra” outlets across India by 2020, covering the presence in all Postal codes across the country.

It has now decided to provide the services of GST registration, filing of returns, payment and other Value added services under the same through Vakrangee Kendra outlets which would further enhance the existing bouquet of services provided by the company. This will be done by acting as an Application Service Provider (ASP), it added.

At 02:16 pm; the stock was up 2.3% at Rs 344 on BSE as compared to 0.42% rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than seven-fold with a combined 1.35 million shares changed hands on BSE and NSE so far.