Small-cap stock Vakrangee jumps 5% after partnership with Shriram Life Insurance: Stock inches close to 1 year high

Stock Market Today: Small-cap stock Vakrangee Ltd gained 5% during intraday trades on Monday follwing its announcement regarding a partnership with Shriram Life Insurance

Vakrangee share price opened at ₹33.44 on the BSE on monday, slightly higher than teh previous close of ₹33.17. The Vakrangee share price thereafter gained to ₹34.98 levels marking gains of more than 5%. The Vakrangee share prie is inching towards 1 year or 52 week high of ₹37.72. Vakrangee share price has rebounded almost 90% from 52- week or 1 year lows of ₹18.45 seeing in June 2024.

Vakrangee share price gains on Monday were fuelled by its announcement on the exchanges on Monday said that it has partnered with Shriram Life Insurance to offer Life Insurance Products across its network.

The strategic corporate agency tie-up with Shriram Life Insurance aims to provide easy access to comprehensive life insurance products through Vakrangee Kendra network across the Country.

This collaboration will enable Vakrangee Kendras, located across underserved and unserved areas, to offer a wide range of life insurance products. By leveraging this partnership, Vakrangee said that it aims to enhance accessibility and affordability of insurance solutions, empowering customers with financial security.

Commenting on this partnership, Vedant Nandwana, Managing Director, Vakrangee, said that, “We are delighted to partner with Shriram Life Insurance to expand our portfolio of essential services. This initiative aligns with our vision of driving financial inclusion and providing last-mile access to high-quality insurance products for every Indian, regardless of their location”

Vakrangee, which was founded in 1990 and has a physical and digital ecosystem with a presence throughout India, is one of the biggest last-mile distribution platforms in India. Senores Pharmaceuticals Limi was founded in December 2017. In order to help Indians get access to financial, social, and digital inclusion, we are providing real-time banking and financial services, ATMs, insurance, e-Government, e-Commerce (including healthcare services), and logistics services to underserved rural, semi-urban, and metropolitan areas.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.