Vakrangee jumps about 28% in five sessions

Vakrangee hit an upper circuit limit of 5% at Rs 245.45 at 11:07 IST on BSE, extending its recent rally.

Meanwhile, the S&P BSE Sensex was almost flat at 34,297.22.

On the BSE, 24,000 shares were traded in the counter so far compared with average daily volumes of 3.77 lakh shares in the past one quarter. The stock opened with an upward gap of 5% at Rs 245.45 and remained stuck at that level so far. The stock hit a record high of Rs 515.40 on 24 January 2018. The stock hit a 52-week low of Rs 153.75 on 10 March 2017.

The stock had underperformed the market over the past 30 days till 15 February 2018, falling 47.89% compared with 2.24% fall in the Sensex. The scrip had also underperformed the market in past one quarter, falling 28.98% as against Sensex's 2.86% rise. The scrip had outperformed the market in past one year, rising 50.60% as against Sensex's 21.19% rise.

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

Shares of Vakrangee spurted 27.57% in five trading sessions to its current market price of Rs 245.45, from a close of Rs 192.40 on 8 February 2018.

The stock witnessed a sharp volatility in the past few days. The recent rally was triggered by bargain hunting after a sharp correction in share price. The stock slumped 61.93% in nine trading sessions to Rs 192.40 on 8 February 2018 from its close of Rs 505.35 on 25 January 2018.

On 12 February 2018, Vakrangee announced that its board approved the capital allocation policy of the company, which entailed the deployment of funds towards share buyback, dividend pay-out and re-investment in the business.

On a consolidated basis, net profit of Vakrangee rose 87.50% to Rs 246.66 crore on 84.13% rise in net sales to Rs 1802.42 crore in Q3 December 2017 over Q3 December 2016.

Vakrangee is the unique 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.

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