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Vakrangee Plunges 9%; BSE IT Index Up 0.1%
Mon, 7 Oct 12:50

Vakrangee Plunges 9%; BSE IT Index Up 0.1%Image source: bluebay2014/www.istockphoto.com

Vakrangee share price has plunged 9% and is presently trading at Rs 28.1.

Meanwhile, the BSE IT index is at 42,419.6 (up 0.1%).

Among the top losers in the BSE IT index today are INFIBEAM AVENUES (down 5.4%) and Sonata Software (down 2.5%).

Eclerx Services (up 3.0%) and LTIMINDTREE (up 2.0%) are among the top gainers today.

Over the last one year, Vakrangee has moved up from Rs 17.1 to Rs 28.1, registering a gain of Rs 10.9 (up 63.7%).

On the other hand, the BSE IT index has moved up from 31,998.7 to 42,419.6, 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 169.3%), Firstsource Solutions (up 86.0%) and PERSISTENT SYSTEMS (up 82.0%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,367.7 (down 0.4%).

The top losers among the BSE Sensex today are MUNDRA PORT & SEZ (down 3.8%) and NTPC (down 3.7%). The most traded stocks in the BSE Sensex are Tata Steel and Axis Bank.

In the meantime, NSE Nifty is at 24,822.7 (down 0.8%). NTPC and MUNDRA PORT & SEZ are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 81,367.7, registering a gain of 15,855.6 points (up 24.2%).

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 499.1.

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