Vakrangee jumped 4.67% to Rs 145.55 at 14:16 IST on BSE after the company said its board will meet on 4 December 2014, to consider applying for the license for the payments bank in the capacity of corporate business correspondent.
The announcement was made during market hours today, 1 December 2014.
Meanwhile, the S&P BSE Sensex was down 66.78 points or 0.23% at 28,627.21.
On BSE, so far 6.71 lakh shares were traded in the counter as against average daily volume of 3.76 lakh shares in the past one quarter.
The stock hit a high of Rs 154 so far during the day, which is a record high for the counter. The stock hit a low of Rs 139.90 so far during the day. The stock had hit a 52-week low of Rs 78.80 on 20 December 2013.
The stock had outperformed the market over the past one month till 28 November 2014, advancing 8.63% compared with the Sensex's 6.75% rise. The stock had, however, underperformed the market in past one quarter, surging 7.71% as against Sensex's 7.72% rise.
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The mid-cap company has equity capital of Rs 50.35 crore. Face value per share is Re 1.
On consolidated basis, Vakrangee's net profit rose 5.09% to Rs 80.07 crore on 2.5% growth in net sales to Rs 698.28 crore in Q2 September 2014 over Q1 June 2014.
Incorporated in 1990, Vakrangee is a prominent system integrator and end-to-end technology intensive service provider by bringing together all hardware, software, networking, data center as well as on-ground skilled resources for various Mission Mode Projects with high national significance under National e-Governance Plan of India. Vakrangee has partnered with nationalized banks, private banks, central government and state governments for successfully implementing these flagship projects that benefits every Indian.
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