Vakrangee Limited alliances with Choice Equity Broking Private Limited to offer complete online trading services across its platform (physical network & digital app).
This tie-up will provide a complete bouquet of financial solutions to the customers across the country. The collaboration will provide our partner with an access to the huge client base & Network that Vakrangee has, helping it tap the untapped market & diversify its base.
Vakrangee through its Nextgen Kendras and BharatEasy Mobile Super app will now be able to provide wide range of Online trading services in remote areas of the country. With 70% of Nextgen Vakrangee Kendra outlets in Tier-5 and 6 towns. Also, Nextgen Vakrangee Kendras exclusively offer a comprehensive range of products and services across banking, insurance, ATM, assisted e-Commerce, e-Governance and logistics.
The Jiffy Trading App by Choice Equity provides key services such as Equity Trading, Derivatives Trading, Currency as well as Commodity Trading. The Highlights of Jiffy Trading App include Zero Account Opening fees, Instant Paperless Account Opening, Free Technical & Fundamental Research by Experts as well as Dedicated Relationship manager.
Commenting on this partnership, Mr. Dinesh Nandwana, Managing Director & Group CEO, Vakrangee Ltd. said, "In order to evolve as a vibrant organization matching customer expectations with various innovative banking and financial products, Vakrangee is now launching on-line trading facility through Jiffy Trading App by Choice Equity. Our partnership strengthens and enhances Vakrangee reach to provide comprehensive Finance solutions to a widespread customer base.
Our endeavor is to provide the best of products and services to customers in both urban as well as rural remote areas. We are extremely excited with our partnership with Choice which gives us a big opportunity to bring value to the customers. This alliance will further boost our strategy of expanding the bouquet of services available at our exclusive Nextgen Vakrangee Kendras."
He added, "Our franchisees in remote areas of the country can now enhance their revenue stream by offering online trading services too. We will continue to add more products and services and tie-up with leading business partners to offer our customers a one-stop solution to all their banking, insurance, ATM, financial services, assisted e-Commerce, e-Governance and logistics. Vakrangee provides these partners with the unmatched reach in remote areas where these brands find the cost of operations too high. We are aspiring to be the most trustworthy physical as well as online convenience store across India, positively moving towards Vakrangee Kendra's new brand philosophy of 'AB Poori Duniya Pados Mein'."
Vakrangee currently has ~13,200 Nextgen Vakrangee Kendras spread across 28 States & UTs, 560+ districts and 4,860+ postal codes. More than 70% of these outlets are in Tier 5 and 6 towns. Vakrangee's planned target is to reach at least 25,000 Nextgen Vakrangee Kendras by FY2022 and further enhance it to reach 75,000 Nextgen outlets by FY2026.
The Company has tied up with reputed partners spread across Banking, ATM, Insurance, Financial services, e-Commerce, e-Governance and Logistics verticals to offer its customers best-in-class services and products.
Shares of Vakrangee Limited was last trading in BSE at Rs. 36.05 as compared to the previous close of Rs. 36.65. The total number of shares traded during the day was 678785 in over 2649 trades.
The stock hit an intraday high of Rs. 36.75 and intraday low of 35.80. The net turnover during the day was Rs. 24594292.00.