Vakrangee, Ricoh India surge 9% on Rs 400-crore deal

Shares of software firms -- Vakrangee and Ricoh India -- surged as much as 9 per cent today following a Rs 400-crore print services business deal between the two.
IT peripheral company Ricoh India today said it has bagged a Rs 400-crore managed print services business from software firm Vakrangee Limited.
Vakrangee shares jumped 9.03 per cent to Rs 165.45 on BSE.
During the day, it soared 14.92 per cent to Rs 174.40 -- its 52-week high.
Shares of Ricoh advanced by 7.21 per cent to end at Rs 896. Intra-day, it climbed 8.88 per cent to Rs 910.
"Ricoh India Limited has signed a memorandum of understanding with Vakrangee Limited for inter alia providing state-of-the-art managed print services (MPS) to Vakrangee Limited," Ricoh India said in a regulatory filing.

"The total worth of the contract is Rs 400 crore while the duration of the contract will be spread to five years," the company said.