Small-cap stock under ₹50: Vakrangee share price jumps over 7% despite stock market crash | Stock Market News

Vakrangee share price jumped over 7% on Thursday despite broader weakness in the Indian stock market, with the Sensex and Nifty 50 crashing over a percent each. Vakrangee shares rallied as much as 7.77% to a high of ₹31.48 apiece on the BSE.

The gains in Vakrangee shares came after the company announced that it has entered into an agreement with Canara Bank as Corporate Business Correspondent (CBC) for offering Banking Services through Vakrangee Kendra networks.

Through this collaboration, Vakrangee’s extensive network of Kendras will deliver a comprehensive suite of banking services to underserved and unbanked communities in the East Zone parts of the Bank. This alliance will enhance rural banking infrastructure, ensuring seamless access to essential financial services in the remotest and most underserved areas, Vakrangee said in a regulatory filing on December 18.

Under this partnership, Vakrangee Kendras will offer a wide range of banking services, including opening of bank accounts, loan repayment and recovery, lead generation on Liability/Assets & Third-Party Products, apply for Rupay debit cards, block Debit card, passbook updation, enroll social security schemes viz. PMSBY, PMJJBY, APY, SSY & PPF, Aadhaar seeding and authentication, pension payments, among many others.

“By combining Vakrangee’s vast reach with Canara Bank’s banking expertise, this partnership is poised to revolutionize rural banking services and deliver meaningful impact to India’s remotest corners,” said Vedant Nandwana, Managing Director, Vakrangee Ltd.

Vakrangee Kendras are exclusive Branded format outlets offering a comprehensive range of products and services across banking, insurance, ATM, assisted e-Commerce, e-Governance and Total Healthcare.

Vakrangee Stock Price Trend

Vakrangee stock price has given decent returns, rising over 15% in one week and 40% in one month. The smallcap stock, Vakrangee shares have gained 30% in the past six months and more than 61% year-to-date (YTD).

At 10:25 AM, Vakrangee shares were trading 5.75% higher at ₹30.89 apiece on the BSE.

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