Network based systems

Vakrangee to create Vakrangee Kendra outlets on the Nayara Energy network

Vakrangee Limited (VL) has partnered with Nayara Energy Limited to set up Vakrangee Kendra outlets in its Nayara retail fuel outlets. Nayara Energy Limited is a private downstream petroleum company based in Mumbai, India, which encompasses refining, marketing, production and a network of over 6,000 fuel retail outlets in India. It operates India’s second largest oil refinery in Vadinar, Gujarat.

Vakrangee will set up NextGen Vakrangee kendras outlets in Nayara retail fuel outlets located in PAN India. Citizens of these areas will now be able to visit the nearest Vakrangee Kendra and enjoy a full range of banking products and services, ATMs, insurance, financial services including opening Demat & Trading account, trading assisted electronics, electronic governance and logistics.

This merger would dramatically increase customer touch points at Vakrangee Kendra outlets and provide a boost to its core focus of financial inclusion, digital India service delivery, social inclusion, job creation and skills development.

Shares of Vakrangee Limited were last trading in BSE at Rs. 43.45 from the previous close of Rs. 43.90. The total number of shares traded during the day was 1,516,250 in more than 4,448 transactions.

The action hit an intraday high of Rs. 45.25 and an intraday low of 42.80. The net turnover during the day was Rs. 66,369,655.00.

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