Vakrangee hits 10% upper circuit on RBI's in-principle nod to set up BBPOU

Despite the 10 per cent surge on Friday, the stock has underperformed the market by falling 19 per cent in past three months, as against 7 per cent rally in the S&P BSE Sensex

Shares of Vakrangee hit the upper circuit of 10 per cent at Rs 27.10 on the BSE on Friday, after the Reserve Bank of India (RBI) granted in-principle authorisation to set-up and operate Bharat Bill Payment Operating Unit (BBPOU).

The trading volumes jumped 1.5 times, with a combined 1.7 million equity shares were changing hands till 02:58 pm. There were pending buy orders for 802,000 shares on the BSE and NSE, the exchange data show.

“The company has been granted In-principle authorisation to set-up and operate Bharat Bill Payment Operating Unit (BBPOU) under the Payment and Settlement Systems