Vakrangee soars 5% after board nod to providing GST services
GST Registration, filing of returns, payment and other value added services would be conducted through their Vakrangee Kendra outlets.
Shares of Vakrangee soared over 5 percent intraday as investors turned bullish on the company’s GST enabling plans.
The company, on April 17, 2017, announced that its board had approved the provision of services such as GST Registration, filing of returns, payment and other value added services through their Vakrangee Kendra Outlets. This will be done by acting as an Application Service Provider (ASP).
Currently, the company operates in more than 35,000 Vakrangee Kendra outlets across 16 states and claims to have a presence in more than 5,000 postal codes. “The company now plans to setup and manage a total of 75,000 “Vakrangee Kendra” outlets across India by 2020, covering the presence in all Postal codes across the country,” it said in a notification to the exchanges.The stock moved in a strong territory, rising over 7 percent in the past one month, while its three-day gain stood at 3 percent. At 13:04 hrs, Vakrangee was quoting at Rs 343.55, up Rs 7.40, or 2.20 percent on the BSE. It touched a 52-week high of Rs 354.45.