Vakrangee slumps 30.64% in four sessions

Vakrangee slumped 14.36% to Rs 107.05 at 12:30 IST on BSE, with the stock extending 19.01% losses in prior three sessions.

Meanwhile, the BSE Sensex was down 1,086.82 points, or 3.99%, to 26,273.52.

On BSE, so far 10.79 lakh shares were traded in the counter, compared with an average volume of 7.04 lakh shares in the past one quarter.

The stock hit a high of Rs 124 and a low of Rs 100 so far during the day. The stock hit a record high of Rs 172.40 on 10 August 2015. The stock hit a 52-week low of Rs 86.55 on 3 June 2015.

The stock had underperformed the market over the past one month till 21 August 2015, dropping 21.43% compared with 2.9% fall in the Sensex. The scrip had however outperformed the market in past one quarter, rising 14.57% as against Sensex's 1.59% decline.

From a recent high of Rs 154.35 on 18 August 2015, the stock has slumped 30.64% in four sessions to current ruling price of Rs 107.05.

The mid-cap company has an equity capital of Rs 50.42 crore. Face value per share is Re 1.

Vakrangee announced on Saturday, 22 August 2015, partnership with MYPACCO, an online solutions provider. Partnership with MYPACCO will allow it to offer convenient access to domestic as well as international courier services at competitive prices to citizens in their neighbourhood. Vakrangee Kendra customers will now be able to send parcels to more than 14000 pin codes in India and to 200 countries. As per the arrangement with MYPACCO, Vakrangee Kendras will collect the courier parcels from customers and will provide payment collections facility for the services rendered to them. Customers will also be able to make payments using their Jan Dhan Yojana accounts opened at these Kendras. Further, the internet connectivity available at these Kendras would allow real-time tracking of the parcels for the customers.

Vakrangee's consolidated net profit rose 11.39% to Rs 84.94 crore on 1.01% rise in total income to Rs 706.33 crore in Q1 June 2015 over Q4 March 2015.

Vakrangee is a technology driven company, focusing on creating India's largest network of last-mile retail points-of-sale, to potentially enable every Indian to seamlessly benefit from financial inclusion, Government programmes and from a wider access to basic goods and services.

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