Penny stock under Rs 10 hit the upper circuit after entering into a strategic distribution partnership with Ageas Federal Life Insurance Company Ltd
The stock is up by 7 per cent from its 52-week low of Rs 8.81 per share.
On Tuesday, shares of Vakrangee Ltd hit a 2 per cent upper circuit to an intraday high of Rs 9.43 per share from its previous closing of Rs 9.25 per share. The stock is up by 7 per cent from its 52-week low of Rs 8.81 per share.
Vakrangee Limited (IRDAI Registration Code: CA0249) announced a strategic distribution partnership with Ageas Federal Life Insurance Company Limited. This collaboration aims to significantly increase access to life insurance across India by leveraging Vakrangee's extensive network. Through 22,986 Vakrangee Kendras, spread across 32 States, 609 Districts, and 5,835 Postal Codes, Vakrangee will now offer Ageas Federal's full suite of life insurance solutions.
This partnership is a major stride towards advancing financial inclusion and closing the existing insurance protection gap, aligning with India's broader inclusive growth objectives. It further solidifies Vakrangee Kendras' position as all-in-one convenience hubs, providing a comprehensive range of essential services including banking, insurance, e-commerce, governance, and healthcare, embodying their motto, "Ab Poori Duniya Pados Mein" (Now the whole world is in the neighbourhood).
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About the Company
Incorporated in 1990, Vakrangee has established itself as a leading last-mile distribution platform in India, boasting a significant physical and digital footprint nationwide. Through its "Vakrangee Kendras" (physical outlets) and the BharatEasy Mobile Super app, the company delivers essential services like banking, financial, e-governance, e-commerce (including healthcare), and logistics to underserved rural, semi-urban, and urban areas. This robust "Go To Market Platform" plays a crucial role in promoting financial, social, and digital inclusion across India.
The company has a market cap of over Rs 1,000 crore and as of March 2025, the Life Insurance Corporation of India (LIC) owns a 4.41 per cent stake in the company. In March 2024, FIIs bought 34,44,599 shares and increased their stake to 3.13 per cent compared to 2.82 per cent in December 2024. The shares of the company have a PE of 160x, an ROE of 4 per cent and an ROCE of 6 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.