Penny Stock Under Rs 10 in Focus as Subsidiary of Company Vortex Engineering Secures Order for 600 ATMs Worth Rs 39.38 Crore from Punjab & Sind Bank

The intraday performance on Thursday showed a decline of 2 per cent. Over the past year, the stock has seen a return of approximately -56.21 per cent.

Vortex Engineering Private Limited (Vortex), a subsidiary Company of Vakrangee Limited, has received a Letter of Intent (LOI) from Punjab & Sind Bank (PSB). The LOI pertains to the end-to-end Supply, commissioning, and maintenance of 600 ATMs and UPS including AMC for a period of 5 years, with a contract value of Rs. 39.38 Crore. The Company has been selected as the L-1 bidder under the terms of the Request for Proposal (RFP) floated by Punjab & Sind Bank.

This order reinforces Vortex’s position as a trusted provider of advanced ATM solutions, known for its innovative and energy-efficient products. With a focus on financial inclusion and expanding ATM accessibility, Vortex continues to support the banking sector with reliable and cost-effective technology.

As a proud Swadeshi and Make-in-India company, Vortex Engineering is committed to manufacturing world-class ATM solutions domestically, contributing to India's self-reliance and technological advancement. By developing and deploying indigenous banking infrastructure, Vortex strengthens India's digital financial ecosystem while promoting local innovation and employment.

The Company has supplied over 14,000 ATM machines till date. With an annual production capacity of 12,000 units, the Company holds 9 patents in the field of ATMs and cash dispensers, reflecting its strong commitment to the 'Make in India' and 'Atma Nirbhar Bharat' initiatives. Additionally, the Company has developed ‘PERFO’—an advanced remote ATM monitoring software that is both cross-platform and cross-vendor compatible, enabling seamless monitoring and management across diverse ATM networks."

Vortex Engineering has been at the forefront of ATM technology, offering sustainable and cutting-edge solutions tailored to the needs of financial institutions. This engagement with PSB Bank further strengthens its commitment to delivering high-quality banking infrastructure across India. Furthermore, Vortex ATMs are designed to deliver superior performance, ensuring seamless transactions and improved banking convenience for customers.

As of May 29, 2025, Vakrangee Limited's share price closed at Rs 9.94 on the NSE. The stock experienced an intraday high of Rs 9.94 and a low of Rs 9.94. The intraday performance on Thursday showed a decline of 2 per cent. Over the past year, the stock has seen a return of approximately -56.21 per cent. In terms of financial performance, Vakrangee Limited reported a total revenue of Rs 255 crore and a net profit of Rs 6 crore for the quarter ended March 31, 2025.

Vakrangee Limited operates a vast network of "Vakrangee Kendras" across India, providing last-mile access to various services in banking, financial services, insurance, e-governance, e-commerce, and logistics. Through its subsidiary Vortex Engineering, the company is also actively involved in manufacturing and deploying ATMs, promoting financial inclusion, and supporting the "Make in India" initiative. Vortex Engineering holds 9 patents in ATM and cash dispenser technology and has an annual production capacity of 12,000 ATM units. The company aims to bridge the rural-urban divide by offering essential services through its extensive network and advanced technological solutions.

Disclaimer: The article is for informational purposes only and not investment advice.