LIC-backed Small-Cap Gem Vakrangee Hits 5% Upper Circuit Again – Stock Surges 16% in 3 Days

Vakrangee, a small-cap stock, has been rising strongly for three straight days. On Thursday, 10th October, the stock opened at ₹32.06, hitting the 5% upper circuit on the BSE. Vakrangee’s share price has gained nearly 16% over the last three days, following a steady 5% increase each day.

The stock had been falling for four days until it bounced back on 8th October, right after the company announced the launch of its private-label apparel products through its e-commerce platform.

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In an official statement, Vakrangee said, “We are proud to introduce our private-label apparel products under the e-commerce category. The pilot phase has been launched, and we plan to distribute these products through our extensive network of Vakrangee Kendra outlets, including both Franchisee and Master Franchisee channels.”

Vakrangee aims to expand this project nationwide after the pilot phase.

The company added, “Vakrangee Kendras are unique outlets offering a wide range of services, including banking, insurance, ATMs, e-commerce, e-governance, and healthcare. We will continue to introduce more products and services to meet all our customers’ needs in one place.”

Vakrangee Share Price Performance

Vakrangee has been on a strong upward trend over the past year, rising by 95%. The stock reached its 52-week high of ₹37.72 on 1st October this year and its 52-week low of ₹16.45 on 11th October last year.

In September, the stock surged 74%, but after hitting a peak on 1st October, it saw some profit booking. Despite the recent three-day rise, the stock is down 10% this month.

Vakrangee Shareholding

As of the June quarter, LIC holds 6,58,14,647 shares of Vakrangee, representing a 6.11% stake. Foreign portfolio investors (FPIs) hold 3,15,03,809 shares, equivalent to a 2.93% stake. The company’s promoters and promoter groups own a total of 41.92% of the company’s shares.