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Vakrangee Plunges 4%; BSE IT Index Up 0.6%
Fri, 4 Oct 10:15

Vakrangee Plunges 4%; BSE IT Index Up 0.6%Image source: KanawatTH/www.istockphoto.com

Vakrangee share price has plunged 4% and is presently trading at Rs 32.6.

Meanwhile, the BSE IT index is at 42,423.9 (up 0.6%).

Among the top losers in the BSE IT index today are INFIBEAM AVENUES (down 1.1%) and Eclerx Services (down 0.7%).

Coforge (up 1.8%) and PERSISTENT SYSTEMS (up 1.6%) are among the top gainers today.

Over the last one year, Vakrangee has moved up from Rs 17.1 to Rs 32.6, registering a gain of Rs 15.5 (up 90.3%).

On the other hand, the BSE IT index has moved up from 31,998.7 to 42,423.9, registering a gain of 32.6% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 176.7%), Firstsource Solutions (up 87.2%) and PERSISTENT SYSTEMS (up 85.9%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 82,442.4 (down 0.1%).

The top losers among the BSE Sensex today are Bajaj Finance (down 1.5%) and NTPC (down 1.1%). The most traded stocks in the BSE Sensex are Axis Bank and Tata Steel.

In the meantime, NSE Nifty is at 25,237.1 (down 0.1%). BPCL and IOC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 82,442.4, registering a gain of 16,930.3 points (up 25.8%).

Vakrangee Financial Update...

Vakrangee net profit grew 353.1% YoY to Rs 22 million for the quarter ended June 2024, compared to a profit of Rs 5 million a year ago. Net sales rose 5.6% to Rs 587 million during the period as against Rs 556 million in April-June 2023.

For the year ended March 2024, Vakrangee reported 333.2% increase in net profit to Rs 44 million compared to net profit of Rs 10 million during FY23. Revenue of the company grew 7.7% to Rs 2,126 million during FY24.

The current Price to earnings ratio of Vakrangee, based on rolling 12 month earnings, stands at 580.2.

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