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IT stock under ₹40 jumps 5% after it partners with Shriram Life Insurance

IT stock partnered with Shriram Life Insurance to offer life insurance via its network, focusing on enhancing financial inclusion in India's underserved areas.
IT stock under ₹40 jumps 5% after it partners with Shriram Life Insurance
IT stock under ₹40 jumps 5% after it partners with Shriram Life Insurance

Introduction:

IT stock has forged a partnership with Shriram Life Insurance, deploying its extensive network to distribute life insurance, particularly targeting India’s underserved regions to enhance financial inclusion.

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Share Price movement of Vakrangee:

On December 30, 2024, Vakrangee Ltd current price is ₹35.47. The stock reached an intraday high of ₹35.54 and low of ₹33.39, rising 7.03% from its previous close of ₹33.14, with a market cap of ₹3,842.07 crore.

Vakrangee New Partnership:

Vakrangee Limited has announced a partnership with Shriram Life Insurance to distribute life insurance products through its Vakrangee Kendra network, aiming to enhance financial inclusion across India. This strategic collaboration focuses on providing accessible and affordable insurance options, particularly in underserved regions.

Mr. Vedant Nandwana, Managing Director of Vakrangee, expressed enthusiasm about the partnership, emphasizing its alignment with the company’s vision to provide essential services and improve last-mile access to high-quality insurance products nationwide. The initiative targets financial security for all, regardless of location.

Vakrangee Kendras, predominantly located in Tier-4 to 6 areas, serve as hubs for a broad range of services including banking, insurance, and e-governance. The partnership will enable these outlets to offer comprehensive insurance solutions, helping Vakrangee progress towards its goal of becoming a trusted convenience store both physically and online.

Also Read: Smallcap stock jumps 5% after it announces 1:1 bonus issue

Recent news About Vakrangee :

On December 21, 2024, Vakrangee announced its Extra Ordinary General Meeting (EOGM) on January 15, 2025, at 11:30 AM via video conferencing. E-voting begins for registered members holding shares as of January 8, 2025.

Stock performance of Vakrangee for Period of 1 week, 6 months and 1 year:

Vakrangee’s stock performance highlights a 4.54% return over the past week, a robust 46.3% gain over six months, and an impressive 74.9% return over the last year, showcasing consistent growth across different timeframes.

Also Read: Stock under ₹50 hits 5% upper circuit after it receives order for smart solar panels

Shareholding pattern of Vakrangee:

All values in %Sep-24Jun-24Mar-24
Promoters41.6741.9242.6
FII2.742.933.07
DII5.136.186.29
Retail & others50.4748.9748.04
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About Vakrangee:

Vakrangee specializes in delivering essential services like banking, insurance, e-governance, and e-commerce through its extensive Vakrangee Kendra network, focusing on financial inclusion and accessibility in underserved regions across India, enhancing convenience for millions of customers.

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.

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