 "Vakrangee rallies 5% on pact with Shriram Life to offer insurance products")
Shares of Vakrangee rose 5.4 per cent at Rs 34.98 a piece on the BSE in Monday’s intraday trade. This came after the company formed a strategic corporate agency tie-up with Shriram Life Insurance.
“This partnership aims to provide easy access to comprehensive life insurance products through the Vakrangee Kendra network across the country,” the company said in a statement on Monday.
This collaboration will enable Vakrangee Kendras, located across underserved and unserved areas, to offer a wide range of life insurance products. By leveraging this partnership, we aim to enhance accessibility and affordability of insurance solutions, empowering customers with financial security, the company said.
Vakrangee is a technology-driven company committed to fostering financial, social, and digital inclusion across India.
Established in 1990 in Mumbai, the company has developed an extensive network of over 45,000 retail outlets known as Vakrangee Kendras. The centres serve as one-stop solutions, offering a diverse range of essential services such as banking, insurance, e-governance, e-commerce, logistics, and ATM facilities. By bridging the gap between urban and rural areas, Vakrangee empowers millions of Indians with access to essential services in real-time.
As a business correspondent for leading public sector banks, Vakrangee enables seamless, paperless banking services, making financial access convenient and efficient.
Additionally, the company plays a crucial role in providing software and equipment for crucial government initiatives like Aadhaar and voter ID card issuance.
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Vakrangee is listed on both the BSE and the National Stock Exchange (NSE).
The 52-week high of Vakrangee is Rs 37.72, while its 52-week low is Rs 18.45 apiece.
The market capitalisation of Vakrangee is Rs 3,733.63 crore, according to BSE. The company falls under the BSE SmallCap category.
At 12:39 PM, Vakrangee shares were trading 4.43 per cent higher at Rs 34.64 apiece. In comparison, BSE Sensex was trading 0.02 per cent higher at 78,716.46 levels.