Small-Cap Stock Spotlight: The share price of Vakrangee has shown remarkable growth, recording strong traction for three consecutive sessions. On Thursday, October 10, the stock opened at a 5% upper circuit limit of ₹32.06 on the Bombay Stock Exchange (BSE). This rise is part of a broader uptrend that has seen the stock gain 5% daily since Tuesday, resulting in an impressive total increase of nearly 16% over the last three days.
After a four-day losing streak, the stock rebounded on October 8, following the announcement of its entry into the private-label apparel market within its e-commerce operations.
In a recent exchange filing, Vakrangee stated, “We are proud to introduce our own Private Label Apparel products within the e-commerce sector. The pilot phase in the apparel segment has been successfully launched, utilizing our extensive network of Vakrangee Kendra outlets, which include both Franchisee and Master Franchisee channels.” This strategic move is anticipated to leverage the existing infrastructure and customer base to enhance its market position.
The company plans to expand its apparel initiative nationwide after the pilot project, showcasing its commitment to innovation and growth.
Vakrangee Kendras operate as exclusive format outlets that provide a comprehensive array of products and services, including banking, insurance, ATM facilities, assisted e-commerce, e-governance, and Total Healthcare. The company reiterated its commitment to expanding its offerings to create a one-stop solution for its customers’ diverse needs.
Vakrangee Share Price Trend
In the past year, Vakrangee’s share price has skyrocketed, gaining as much as 95%. The stock reached its 52-week high of ₹37.72 on October 1 this year, while it hit a 52-week low of ₹16.45 on October 11 of the previous year.
On a monthly basis, the stock surged by an impressive 74% in September. However, after peaking on October 1, it faced profit booking, resulting in about a 10% decline for the month, despite the recent three days of notable gains.
Vakrangee Shareholding Pattern
As of the June quarter of the current financial year, the shareholding data indicates that the Life Insurance Corporation of India holds a significant stake, with 6,58,14,647 shares, amounting to 6.11% of the company. This institutional backing reflects confidence in Vakrangee’s business model and growth prospects.
Foreign portfolio investors (FPIs) have also positioned themselves in the company, holding 3,15,03,809 shares, which represents 2.93% of Vakrangee’s shares. This investment demonstrates a wider recognition of the company’s potential in the market.
Moreover, the company’s promoters and promoter groups collectively own 41.92% of Vakrangee’s shares, indicating strong insider confidence in the company’s future performance.
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