More
    HomeStocksMarket Sentiment - Fall and Rise of Vakrangee

    Market Sentiment – Fall and Rise of Vakrangee

    Vakrangee is an IT company building software for banking, insurance, e-commerce, and logistics services. It was incorporated in 1990. Vakrangee is the largest Aadhar enrolment agency and generated about 3.5 crore Aadhar cards till now. The company is listed on both NSE and BSE. The company is financially strong and has given 500% returns in the last 5 years. Its stock price was Rs. 505 on 25th January which has fallen by 62% to Rs. 192 on 9th February 2018. This free fall is due to the company had purchased 2 million shares of P C Jewellers for about ₹ 112 crore from the open market. There were market rumors alleged the company being investigated on price and volume manipulation.

     

    [Source: BSE]

    On 3rd February, Vakrangee has clarified that it has not received any intimation from SEBI that they are investigating the said price and volume manipulation. The company has clarified that it has not received any communication either from stock exchanges or from the market regulator. Further, the company has clarified that it has treasury fund of ₹ 1500 crore and has made a direct equity investment in P C Jewellers from the open market.

    The company is doing very good business and is confident to achieve its vision 2020 by targeting 75000 Vakrangee Kendra Outlets. The stock is still a multi-bagger even after a sharp fall in last week. On 9th February it has opened in a lower circuit of 5% but in the afternoon it has bounced back to 5% upper circuit and settled at ₹202.

    Here the point is that – one rumor can damage the company’s market capitalization in such a short period before the company gets time to react or clarify.

    This is called market sentiments.

    Subscribe to Blog via Email

    Enter your email address to subscribe to this blog and receive notifications of new posts by email.

    Vishal Jhaveri
    Vishal Jhaverihttps://www.wealthpedia.in
    Vishal Jhaveri is an experienced finance blogger with expertise in financial markets such as Stocks, Mutual Funds, Insurance, and Personal Finance. He stresses the importance of acquiring financial knowledge, a subject not typically taught in schools, to create genuine wealth and ensure a stable life for oneself and one's family. It is vital to note that all content on his website is solely for educational and informational purposes and should not be interpreted as trade or investment advice.
    RELATED ARTICLES

    1 COMMENT

    1. Vakrangee- should i invest now. Yes definately. the stock is going to play between rs 28 /-to 60/- until next qtr result is declared. not advisable to buy above 60/- until next qtr result. if the result are good then the stock will definately see the level of 3 digits . now all depends upon company performance.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Tuesday, March 21, 2023

    Subscribe to Blog via Email

    Enter your email address to subscribe to this blog and receive notifications of new posts by email.

    - Advertisment -

    Most Popular