IT company has partnered with Canara Bank to enhance banking access in rural and underserved areas. Through its extensive network of service centers, the collaboration aims to provide essential financial services to remote communities, promoting financial inclusion.
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Share price movement of Vakrangee:
On December 19, 2024, Vakrangee Limited opened at ₹29.22, up 0.03% from its previous close of ₹29.21. The stock reached a high of ₹31.49 (+7.81%) and a low of ₹28.85. By 11:18 AM, it traded at ₹30.59, a 4.72% increase, with a market cap of ₹3,297.11 crore.
Vakrangee partners Canara Bank for inclusion:
Vakrangee Limited has partnered with Canara Bank to offer banking services through its network of Vakrangee Kendras. This collaboration aims to provide essential financial services to underserved communities in rural areas, enhancing access to banking in remote regions.
The partnership will allow Vakrangee Kendras to offer a range of banking services, including account opening, deposits, loan repayments, social security enrollments, and pension payments. The initiative aligns with the vision of financial inclusion and aims to bridge the rural-urban banking gap.
With 83% of Vakrangee Kendras located in Tier-4 to 6 locations, this alliance will help expand the reach of banking services to remote areas. The partnership supports the government’s goals of financial, social, and digital inclusion, offering a one-stop solution for local communities.
Stock performance of Vakrangee for Period of 1 week, 6 months and 1 year:
Vakrangee Limited has shown strong performance, with a 1-week return of 8.75%, a 6-month return of 22.1%, and a 1-year return of 55.3%, reflecting robust growth and positive investor sentiment in recent periods.
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Shareholding pattern of Vakrangee:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 41.70% | 41.90% | 42.60% |
| FII | 2.70% | 2.90% | 3.10% |
| DII | 5.10% | 6.20% | 6.30% |
| Public | 50.50% | 49.00% | 48.00% |
About Vakrangee:
Vakrangee Limited (NSE: VAKRANGEE), founded in 1990, is one of India’s largest last-mile distribution platforms. It offers banking, insurance, e-Governance, e-Commerce, and logistics services through its Vakrangee Kendra outlets and BharatEasy mobile app, promoting financial inclusion.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
