Vakrangee hits lower circuit after bulk selling in last session

Vakrangee was locked at 5% lower circuit at Rs 221.55 at 10:08 IST on BSE after foreign funds offloaded shares of the company via bulk deals yesterday, 19 February 2018.

Meanwhile, the S&P BSE Sensex was up 168.01 points or 0.5% at 33,942.67.

On the BSE, 8.44 lakh shares were traded on the counter so far as against average daily volumes of 4.94 lakh shares in the past one quarter. The stock had hit a high of Rs 239.65 and a low of Rs 221.55 so far during the day. The stock had hit a record high of Rs 515.40 on 24 January 2018 and a 52-week low of Rs 153.75 on 10 March 2017.

The stock had underperformed the market over the past one month till 19 February 2018, sliding 47.66% compared with the Sensex's 4.89% fall. The stock had also underperformed the market over the past one quarter, declining 29.16% as against the Sensex's 1.3% rise. The scrip had, however, outperformed the market over the past one year, surging 49.7% as against the Sensex's 18.64% rise.

The large-cap company has equity capital of Rs 105.88 crore. Face value per share is Rs 1.

New World Fund Inc sold 1.06 crore shares of Vakrangee at Rs 253.27 per share in a bulk deal on the NSE yesterday, 19 February 2018. Smallcap World Fund Inc offloaded 53.12 lakh shares at Rs 253.27 apiece. Martin Currie Global Emerging Markets Fund bought 71.33 lakh shares at Rs 257.30 per share.

New World Fund Inc held 1.36% stake in Vakrangee end December 2017.

On a consolidated basis, net profit of Vakrangee rose 87.5% to Rs 246.66 crore on 84.1% rise in net sales to Rs 1802.42 crore in Q3 December 2017 over Q3 December 2016.

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

Powered by Capital Market - Live News