Credit Suisse bought shares in Vakrangee

Posted by Biswanath D.
6
Finance & Investment
Sep 21, 2016
161 Views

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IT Index performance

IT Index is in focus again as the Index is gradually recovering from its 26 week low of 10075.75 made on 29th Feb 2016 and is currently trading at 10426. IT Index underperformed comparing to other NSE indices, where Benchmark Nifty rose 29% from its low of 6825 made on 29th Feb 2016.

About Vakrangee

Vakrangee is a technology driven company, focusing on creating India’s largest network of last-mile retail points-of-sale, to potentially enable every Indian to seamlessly benefit from social inclusion, financial inclusion, Digital India, Employment, Skill Development, Government programmes and a wider access to basic goods and services.

Vakrangee Share Price Movement

Vakrangee share price is trading at Rs. 228.40. The stock has shown buying momentum from its recent low of Rs. 162.80 made on 18th August 2016. The scrip has already given an up movement of 40% from its recent low.

NSE Delivery Position

As per NSE data on 14th of Sep 2016 a huge delivery position was seen in Vakrangee with 12.46 lakh shares, double than its average delivery position. The stock traded in a range of 208-220(Low-High) level. Another huge delivery position was seen on 15th Sep 2016 with 31.50 lakhs shares and stock traded in a range of 216-226.45 level. Therefore, 208 can be considered as good support for the stock.

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Huge delivery position was seen in the stock on 6th Sep, 7th Sep, 14th Sep and 15th Sep. 

Large deal

Yesterday Newtree Trading Company Private Ltd (It is a Non-govt company and is registered at Registrar of Companies, Director of the company is Sunil Mohan Arya and Sudam Kanu Kathe) sold 44,25,000 shares at Rs 227 and Credit Suisse (Singapore) Ltd A/C Credit Suisse (Singapore) bought 44,25,000 shares of Vakrangee   at Rs 227 on the NSE.

Other important information on Vakrangee

  • Vakrangee revenue jumped 4.72% in QoQ from Rs. 897.93 crs to Rs. 917.52 crs.
  • Net Profit jumped 9.5% from Rs. 110.86 crs to Rs. 121.49 crs.
  • Vakrangee Net Profit margin is 12.43%
  • 52 Week High/Low – 231.00/ 104.75
  • Vakrangee is trading at PE multiple of 28.03

If IT Index gives breakout of its weekly level of 10654 (3 Week High), then Vakrangee can be bought with the target of Rs.250. 

Source :  https://www.dynamiclevels.com/en/blog/credit-suisse-bought-shares-in-vakrangee

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