Vakrangee Softwares surges on stake hike by LIC
LIC's increased its holding in the company to 5.66% in March 2013 quarter from 3.77% at the end of December 2012 quarter.
Vakrangee Softwares has surged 6% to Rs 78.25 after the company engaged in providing e-governance related services said Life Insurance Corporation of India (LIC) has bought an additional around 2% stake in the company through open market transactions.
The insurance giant has acquired 9.5 million shares representing 1.89% of total equity of the company worth of Rs 63 crore via open market between January-March 2013.
“LIC’s holding in Vakrangee Softwares has increased to 5.66% in March 2013 quarter from 3.77% at the end of December 2012 quarter, “a latest shareholding pattern data filed by the company shows.
The stock opened at Rs 73.75 and hit a high of Rs 78.70 on NSE. A combined 218,480 shares have changed hands on the counter till 1100 hours NSE and BSE.
Meanwhile, the stock has outperformed the market by surging 32% so far in 2013 compared to 1.79% fall in benchmark Nifty.
The insurance giant has acquired 9.5 million shares representing 1.89% of total equity of the company worth of Rs 63 crore via open market between January-March 2013.
“LIC’s holding in Vakrangee Softwares has increased to 5.66% in March 2013 quarter from 3.77% at the end of December 2012 quarter, “a latest shareholding pattern data filed by the company shows.
The stock opened at Rs 73.75 and hit a high of Rs 78.70 on NSE. A combined 218,480 shares have changed hands on the counter till 1100 hours NSE and BSE.
Meanwhile, the stock has outperformed the market by surging 32% so far in 2013 compared to 1.79% fall in benchmark Nifty.