Vakrangee perched strongly in green

Vakrangee is the top gainer on the BSE since the opening of the session. Hitting a new 52-week high at Rs.174.40, the stock is strongly perched in the green at Rs.165 levels, up almost 9%.

Saturday evening, the company announced that it has formed an alliance 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.

Foreign fund Wellington, one of the top 10 funds in the world with a corpus of over $3 trillion bought 1.5 crore shares in the company on Friday.

The company currently operates some 15,000 Vakrangee Kendra and is the only company in India which offers Aadhar based bio matrix ATM.  It plans to increase the count of its Kendras to 20,000 by March 2016 and put up 15,000 white label ATMs by 2020.

The stock is on the radar of many discerning FIIs and HNIs and our editor, Mr.SP Tulsian has recommended buying this stock as an investor for a target of Rs.150-200 in the next 6 months.