Vakrangee extends recent slide

Vakrangee lost 2.78% to Rs 462.65 at 12:45 IST on BSE, with the stock extending recent slide amid selling pressure.

Meanwhile, the S&P BSE Sensex was up 200.78 points or 0.63% at 31,888.30.

On the BSE, 1.11 lakh shares were traded on the counter so far as against the average daily volumes of 93,275 shares in the past one quarter. The stock had hit a high of Rs 475.80 and a low of Rs 460.30 so far during the day. The stock had hit a record high of Rs 520 on 1 September 2017 and a 52-week low of Rs 197.15 on 8 September 2016.

The stock had outperformed the market over the past one month till 8 September 2017, advancing 4.9% compared with the Sensex's 1.02% fall. The stock had also outperformed the market over the past one quarter, gaining 14.8% as against the Sensex's 1.52% rise. The scrip had also outperformed the market over the past one year, advancing 133.74% as against the Sensex's 9.1% rise.

The large-cap company has equity capital of Rs 52.94 crore. Face value per share is Rs 1.

Shares of Vakrangee have fallen 9.49% in seven trading sessions to its ruling market price, from its close of Rs 511.20 on 31 August 2017.

Among recent news, Vakrangee announced on 7 September 2017 its tie-up with Vasco Worldwide, an avant-garde travel service enterprise, to provide travel concierge services to its customers comprising of both independent and corporate travelers. Continuing expansion of its service offerings for the convenience of the customers, Vakrangee and Vasco Worldwide plan to include insurance of international SIM card & travel insurance policies to the existing bouquet of services in the near future, the company had said.

On a consolidated basis, Vakrangee's net profit rose 11% to Rs 168.03 crore on 13.7% growth in net sales to Rs 1301.85 crore in Q1 June 2017 over Q4 March 2017.

Vakrangee is the unique technology driven company focused on building India's largest network of last-mile retail touch points to deliver real-time banking, insurance, e-governance, ecommerce and logistics services to the unserved rural, semi-urban and urban markets.

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