Desk
Share
The stock market witnessed a bullish trend on Tuesday with Nifty gaining 200 points and Sensex gaining more than 600 points. After the decline in the last six days, some growth was seen in the market on Tuesday. This growth was led by large cap stocks of banking and IT. Meanwhile, there was also stock-specific news flow in the market.
Apart from large cap, and mid cap, some penny stocks also shone in today's market. Vakrangee stock, priced below Rs 30, closed with an upper circuit in today's market with a gain of 5% percent.
Vakrangee Limited hit an upper circuit of 5% on Tuesday and closed at the level of Rs 29.02. The company has announced the sourcing and distribution of its own private-label apparel products under the e-commerce business category.
The company has successfully launched the pilot phase in the apparel segment and plans to leverage its extensive network of Vakrangee Center outlets, including both franchise and master franchise channels. Upon successful completion of this pilot, Vakrangee intends to take this initiative to the all-India level. Additionally, the company plans to diversify into other consumer and retail product categories in the future, further increasing its presence in the wider market. The
The newly launched apparel collection has a range of fashionable, comfortable, and affordable clothing for men, suitable for all occasions. With this launch, the company aims to cater to a diverse audience by providing high-quality clothing, trendy designs, and exceptional value.
Vakrangee has emerged as one of India's largest last mile distribution platforms, with both a physical and digital ecosystem across the country. The company delivers real-time banking and financial services, ATM services, insurance, e-governance, e-commerce (including healthcare), and logistics services to rural, semi-urban, and urban markets, enabling financial, social,, and digital inclusion.
Vakrangee Limited has positioned itself as the "go-to-market platform" for various business sectors, including fintech and digital platforms. Its subsidiary digital convenience stores, known as "Vakrangee Kendras", serve as a one-stop shop to access various services and products. Additionally, its digital platform, BharatEasy Mobile Super App, complements these physical outlets.
As per the shareholding pattern for the quarter that ended June 2024, Life Insurance Corporation of India (LIC) a holds 6.11 percent stake in Vakrangee, which is equivalent to 65,814,647 shares. Vakrangee's stock has gained 53 percent so far in the year 2024.
