Vakrangee surges over 2% after alliance announcement

It has announced an alliance with Reliance Nippon Life Asset Management to offer mutual fund products to Indian citizens.

Jul 13, 2018 06:07 IST India Infoline News Service

Mumbai-based technology company Vakrangee gained over 2% after it announced its alliance with Reliance Nippon Life Asset Management.

This collaboration will offer mutual fund products to citizens on a pan-India basis. Thus, Vakrangee, through its Nextgen Vakrangee Kendras, will offer mutual fund distribution and help Reliance Mutual Fund to extend its reach to the unserved and underserved areas. 

Vakrangee is the largest system integrator and IT-enabled service provider in the Indian e-governance space. It mainly derives its revenue from the Vakrangee Kendras and the remaining from e-governance.

Vakrangee share price is currently at Rs53.40, up Rs0.95, or 1.81%, from its previous close of Rs52.45 on the BSE.
The scrip opened at Rs53.90 and has touched a high and low of Rs54.50 and Rs50.80, respectively. So far, 56,86,847 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs5,553.42cr.

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