Vakrangee launches domestic money transfer services

Vakrangee gained approximately 4 per cent intraday as the company launched domestic money transfer services at its Nextgen outlets.

This domestic money transfer service will be available across Vakrangee’s nationwide franchisee network of the Nextgen Vakrangee Kendras. Vakrangee has already launched these Nextgen Kendras in the Mumbai Metropolitan region (MMR) and National capital region (NCR). The company further plans to launch more than 3,000 NextGen outlets across 20 states in India.

Vakrangee is a technology company. The company's segments include e-governance projects and the Vakrangee Kendras. The e-governance projects business offers collection services, including payment of electricity, telephone and mobiles; recruitment application processing, including processing of applications for recruitment of workforce for government-related services etc. The Vakrangee Kendra segment includes banking and insurance, including white label automated teller machines and pension transactions, and e-commerce services.

The stocks of Vakrangee ended Wednesday’s trading day on a positive note and traded in green throughout the trading session. The stocks opened at Rs. 35.10 per share and reached an intraday high of Rs. 37.60 and an intraday low of Rs 34.60. The shares at closed at Rs 37.60 up by 4.88 per cent. Meanwhile, the BSE Sensex closed at 36,431.67, down by 0.14 per cent.