LIC Holds 4.41 Per Cent Stake & FIIs Increase Stake: Multibagger Penny Stock Under Rs 30 Jumps Over 6 Per Cent; Board Meeting On February 05 for Q3FY25 & 9MFY25 Results
The stock is up by 55.55 per cent from its 52-week low of Rs 18.45 per share.
On Wednesday, shares of Vakrangee Ltd gained 6.1 per cent to Rs 28.70 per share from its intraday low of Rs 27.05 per share with over 3.8 lakh shares changing hands on BSE. The stock is up by 55.55 per cent from its 52-week low of Rs 18.45 per share.
Vakrangee Ltd informed that the meeting of the Board of Directors of the Company will be held on Wednesday, February 05, 2025, inter alia, to consider and approve Un-audited (Standalone & Consolidated) Financial Results for the quarter and nine months ended December 31, 2024.
Earlier, Vakrangee and Bank of Baroda extended their partnership to expand financial access across India. This renewed agreement allows Vakrangee to continue offering a wide range of banking services through its over 14,000 Banking BC points. This collaboration aims to enhance financial inclusion, especially in remote areas. Vakrangee Kendras will provide essential banking services like account opening, cash transactions, and social security scheme enrolments. This aligns with Vakrangee's Vision 20230 and its focus on expanding its network of over 21,912 outlets, with a strong presence in underserved areas.
Vakrangee Ltd, established in 1990, is a technology-focused company that aims to bridge the digital divide. It operates a network of "Next-Gen Vakrangee Kendras," franchise-based, one-stop convenience stores offering a range of services to rural, semi-urban, and urban India. The company primarily focuses on BFSI services, including banking, insurance, and ATM facilities. Additionally, Vakrangee provides e-commerce and logistics solutions, such as assisted online shopping, healthcare, travel services, telecom and bill payments, and courier services, effectively catering to the diverse needs of its customers in underserved areas.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
The company has a market cap of over Rs 3,000 crore and as of December 2024, the Life Insurance Corporation of India (LIC) owns a 4.41 per cent stake in the company. In December 2024, FIIs increased their stake to 2.82 per cent compared to 2.74 per cent in September 2024. The company is almost debt-free as its current debt is just Rs 9.58 crore which is just 0.3 per cent of its current market cap. The shares of the company have a PE of 512x, an ROE of 3 per cent and an ROCE of 7 per cent. Investors should keep an eye on this Small-Cap IT stock.
Disclaimer: The article is for informational purposes only and not investment advice.