95.7 Per Cent Returns From 52-Week Low: LIC-Backed IT Penny Stock Under Rs 40 Jumps Over 5 Per Cent; Here’s Why
The stock’s 52-week high is Rs 37.72 per share and the stock is up by 95.7 per cent from its 52-week low of Rs 18.45 per share.
On Thursday, shares of Vakrangee Ltd jumped over 5 per cent to Rs 36.10 per share from its previous closing of Rs 34.18 per share with over 12 lakh shares changed hands.
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.
Recently the company announced a strategic partnership with Future Generali Insurance to expand access to general insurance products. This collaboration will empower Vakrangee Kendras, particularly those in underserved areas, to offer a diverse range of insurance options, including health, motor, travel, home, and personal accident insurance. By leveraging this partnership, Vakrangee aims to enhance the accessibility and affordability of insurance solutions for its customers, bringing these essential services closer to individuals in even the most remote parts of India.
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Additionally, the company has partnered with Shriram Life Insurance to expand access to life insurance products across India, particularly in underserved regions. Through its vast network of Vakrangee Kendras, the company will offer a diverse range of life insurance solutions, enabling individuals to secure their financial future. These strategic partnerships with leading insurance providers demonstrate Vakrangee's commitment to providing comprehensive and convenient financial services to its customers, solidifying its position as a trusted one-stop shop for various needs.
The stock’s 52-week high is Rs 37.72 per share and the stock is up by 95.7 per cent from its 52-week low of Rs 18.45 per share. The company has a market cap of over Rs 3,800 crore and as of September 2024, the Life Insurance Corporation of India (LIC) owns a 5.07 per cent stake in the company. The company is almost debt-free as its current debt is just Rs 9.58 crore which is just 0.25 per cent of its current market cap. The shares of the company have a PE of 572x, an ROE of 4 per cent and an ROCE of 8 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.