Vakrangee hits upper circuit

Vakrangee Limited ditched its losing streak and was locked in its upper circuits on Friday. This is major trend reversal for the stock which has been falling for 18 consecutive days. This surge was despite the stock touching a new 52-week low during the early morning session.

Around 34.14 lakh shares of Vakrangee changed hands through block deals on BSE, according to data available with exchange. With this, the stock surged up by 5 per cent and was locked its upper circuit on Friday. At 13:00 hours, the stock of Vakrangee Limited was at Rs. 34.20 per share, up 4.91 per cent.

Earlier on April 27, the company's auditor Price Waterhouse resigned from its position, citing inadequate information from the management regarding its election book, gold and jewellery business, etc. Vakrangee is a IT company that offers banking, insurance, e-governance, e-commerce, and logistics services.

Meanwhile, at 1:13 hours, the benchmark S&P BSE Sensex was at 35,244.19, down 78.19 or 0.22 per cent on BSE on Friday.