During Thursday’s trading session, shares of a company engaged in the E-Governance & IT/ITES business (B2B) hit a 5 percent upper circuit on BSE, after a Domestic Institutional Investor (DII) bought 15 lakh shares worth Rs. 4.63 crores in the company via a bulk deal on BSE.
Price Movement
With a market cap of Rs. 368.7 crores, at 12:06 p.m., the shares of VL E-Governance & IT Solutions Limited were trading in the green at Rs. 34.8, up by 2 percent, as compared to its previous closing price of Rs. 34.11. The stock has delivered negative returns of nearly 34 percent over a one-year period, as well as around 49 percent returns in the last one month.
What’s the News
As per BSE bulk deal data, domestic investor Neo Apex Venture LLP purchased 15 lakh equity shares valued at around Rs. 4.63 crores in VL E-Governance & IT Solutions through an open market transaction, at an average price of Rs. 30.87 per share.
On the selling side, Navratri Share Trading Private Limited divested more than 25 lakh shares worth around Rs. 8 crores on BSE, at the same price. Additionally, prominent businessman Niranjan Lakhumal Hiranandani sold more than 6.26 lakh shares on NSE for Rs. 1.94 crores, at an average price of Rs. 31 per share.
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Financials
VL E-Governance & IT Solutions reported a significant growth in revenue from operations, experiencing a quarter-on-quarter increase of nearly 90 percent, rising from Rs. 8 crores in Q2 FY25 to Rs. 15.2 crores in Q3 FY25.
Similarly, during the same period, the company’s net profit increased from Rs. 0.81 crores to Rs. 0.94 crores, representing a rise of around 16 percent QoQ.
About the Company
VL E-Governance & IT Solutions Limited, formerly known as Vakrangee Logistics Private Limited, is engaged in the business of E-Governance functioning as a system integrator and end-to-end service provider for E-Governance projects with special competencies in handling massive, multi-state, and e-governance enrollment projects, data digitization, software and license.
Written by Shivani Singh
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