Vakrangee rose 2.66% to Rs 202.60 at 11:54 IST on BSE after the company tied up with Religare Health Insurance Company to distribute the latter's health insurance products through Vakrangee distribution network.
The announcement was made after market hours on Tuesday, 5 July 2016. The stock market was closed yesterday, 6 July 2016, for a holiday.Meanwhile, the BSE Sensex was up 17.97 points, or 0.07%, to 27,184.84.
On BSE, so far 16.90 lakh shares were traded in the counter, compared with average daily volume of 11.67 lakh shares in the past one quarter. The stock hit a high of Rs 204 and a low of Rs 197.80 so far during the day. The stock hit a record high of Rs 228.90 on 9 March 2016. The stock hit a 52-week low of Rs 86.95 on 26 August 2015. The stock had outperformed the market over the past 30 days till 5 July 2016, rising 15.07% compared with 1.45% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.71% as against Sensex's 9.1% rise.
The large-cap company has an equity capital of Rs 52.92 crore. Face value per share is Re 1.
Vakrangee has announced corporate agency tie up with Religare Health Insurance Company (Religare) to distribute Religare's health insurance products through Vakrangee distribution network. Vakrangee said in a statement that citizens, especially in un-served and undeserved areas shall be able to access health insurance products and services offered/to be offered by Religare through Vakrangee distribution network.
Religare Health Insurance is promoted by Religare Enterprises. Union Bank of India and Corporation Bank are the two other shareholders of Religare Health Insurance.
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Vakrangee's consolidated net profit rose 45.3% to Rs 110.80 crore on 25.9% rise in net sales to Rs 879.93 crore in Q4 March 2016 over Q4 March 2015.
Vakrangee is the unique technology driven company focused on building India's largest network of last-mile retail touch points to deliver real-time banking, insurance, e-governance, e-commerce and ATM services to the unserved-rural, semi-urban and urban markets. These retail touch points known as Vakrangee Kendra act as one-stop shop for availing various services and products.
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