Vakrangee hits a life time high

Vakrangee hit a new life time high today at Rs.214.65. There was no one specific reason as such but a collective spurt of good news over the past month or so. This has probably put the stock on the strong “investment” radar and that could be the reason why we see this momentum today.

First was the news of its tie-up with Ricoh India to provide Managed Print Service (MPS) on a Pay per Unit (PpP) model to the un-served and under-served geographies in India through various Vakrangee Kendras. Then came the news of its alliance with Tata AIG to use the Vakrangee network to distribute general insurance products.

The market is enthused with its promise of becoming debt free by end of current fiscal and to maintain a 15-20% dividend payout from FY17.