Share price of this small-cap stock jumped by nearly 1.4% on NSE to Rs. 21.8 in the morning trading session of March 13th, from its previous close of Rs. 21.5, after the Reserve Bank of India (RBI) provided the Renewal of Authorization for the company.
With a market capitalisation of Rs. 2,166.7 crores, in the last six months, Vakrangee Limited has delivered about 19.94 percent of positive returns and nearly 4.8 percent of returns, so far in 2024. However, it has given around 6.8 percent of negative returns in the last six months.
According to recent regulatory filings with the stock exchanges, the Reserve Bank of India (RBI) has provided the Renewal of Authorization for Vakrangee Limited.
The RBI has extended the validity of the company’s Authorization until March 31, 2025, to set up, own and operate the White Label ATMs (WLA) in India.
In terms of financials, the company’s revenue from operations grew by 0.038 percent QoQ from Rs. 51.54 crore in Q2 FY23-24 to Rs. 51.56 crore in Q3 FY23-24, accompanied by an increase in net profit of 195.23 percent from Rs. 0.42 crore in Q2 FY23-24 to Rs. 1.24 crore in Q3 FY23-24.
As of December 2023, FIIs hold 3.31 percent of the shares, whereas DIIs hold 6.29 percent of the shares in the company, aggregating to 9.6 percent of the institutional holdings.
Vakrangee Limited, incorporated in 1990, has emerged as one of India’s largest Last Mile Distribution Platform with a Physical and Digital Eco-system in place with a pan-India presence.
The company provides real-time Banking & Financial Services, ATMs, insurance, e-governance, e-commerce (including healthcare services) and logistics services.
Written by Shivani Singh
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