Only buyers seen in this stock; price surged by 12%

Vakrangee limited gave a return of 40% in one week.

The stock rose 12.5% today from its opening price of Rs 32.70 to a high of Rs 37.90. The stock's 52-week high and low are Rs. 47 and Rs. 23.60, respectively. The company has a market cap of Rs 3904.6 crore.

On the BSE, the volume of the stock increased by more than 3.92 times. Yesterday, the stock reached its upper circuit at Rs 33.10. The stock has increased by 40% since last week. On September 6th, the exchange requested more details regarding the volume surge. In exchange filling the management of the company denies that there have not been any significant changes that could influence the price or volume action of the company. 

Vakrangee Limited is a technology-driven company centred on building India's largest network of last-mile retail outlets to deliver its services to the unserved and underserved rural, semi-urban and urban populations of the country. By providing BFSI, ATM, E-Commerce & Logistics Services, the company offers a wide range of services in numerous industries. Its Kendras are crucial "One Stop Shop Assisted Digital Convenience Stores," providing residents with goods and services at affordable prices, on-time delivery, and the same high standard. Over the past few years, the company has built up a portfolio of important licences and partnership empanelment. It uses a franchisee-based business with few assets.

Company's top line improved by 47% YOY in Q1 of FY23. However, there was an 81% YOY decline in net profit in the first quarter of FY23. Additionally, the operating profit margin decreased from 19.4% in the prior quarter to 3.8% this quarter. Of the entire assets, company receivables made up 33%. The receivable days decreased from 1445 days to 486 days in the June quarter of FY23 compared to the prior quarter.