Vakrangee Software sizzles, Goldman Sachs increases stake

Vakrangee Software was sizzling on bourses with the stock hitting the upper circuit filter for the day. The stock has been languishing in the region of Rs.130-150 for the past few months after it tumbled from higher levels.

Vakrangee Software is one of the software companies which is insulated from the Dollar - Rupee fiasco since most of its projects are eGovernance initiatives by various Government agencies in India.

Goldman Sachs Investments Mauritius has been lapping up the stock silently in good quantity for the past few days.

The stock zoomed today on good volumes and hit the upper circuit level at Rs.147.25, up by Rs.13.35 or 9.97%. The stock hit an intraday high of Rs.147.25 and low of Rs.134.35.

The total traded quantity was 362706 compared to 2 week average of 97334. There were pending buy orders for 36658 shares at the upper circuit level of Rs.147.25 in BSE.

Source : Equity Bulls

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