Stock market news: Vakrangee shares gain nearly 3%

NEW DELHI: Shares of Vakrangee Ltd. traded 2.59 per cent up in Monday's trade at 12:50PM (IST). Around 552,110 shares changed hands on the counter.

The counter opened at Rs 28.85 and touched an intraday high and low of Rs 30.25 and Rs 28.85, respectively, in the session so far. The stock of Vakrangee Ltd. quoted a 52-week high of Rs 55.5 and a 52-week low of Rs 17.1.

Total market cap of the Vakrangee Ltd. stood at Rs 3146.43 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 67.85 crore for the quarter ended 30-Jun-2020, down 67.28 per cent from previous quarter's Rs 207.39 crore and down 46.48 per cent from the year-ago quarter's Rs 126.78 crore.

The net profit for latest quarter stood at Rs 11.89 crore, up 52.21 per cent from the corresponding quarter last year.

Shareholding pattern
As of 30-Jun-2020, DIIs held 0.01 per cent stake in the company, while foreign institutional investors held 11.82 per cent and the promoters 42.6 per cent.

Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 41.75 and a price-to-book ratio of 0.8. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Vakrangee Ltd. belongs to the Miscellaneous industry.