Vakrangee in strategic alliance with Ricoh India : hits 52 week high

Vakrangee declared its alliance with Ricoh India on November 21, 2015. The company will be able to provide managed print services (MPS) on a Pay per Unit (PpP) model to the un-served and under served geographies in India through Vakrangee Kendras. Through the alliance Ricoh initially proposes to deploy Multi-functional printers (MFPs) at various Vakrangee Kendras PAN India.

Vakrangee has announced its execution of national MPS with Ricoh. The company aspires the use of high quality of products offering of Ricoh. It will also provide its quality services and expertise to end users. Vakrangee added an essential and widely used service to the basket of services that are being offered through its last mile retail outlets through the alliance.

The shareholding pattern of the Vakrangee indicates that FII holdings expanded by 45 basis points to 5.77 per cent while DII holdings contracted by 29 basis points to 7.66 per cent during the September 2015 quarter. The company's share price increased by 14.93 per cent on bourses in early trades and is trading at Rs 167.4 on intraday basis. Ricoh India also surged by 5.29 per cent on bourses in early trades and trading at Rs 865 on intraday basis.

Ricoh India is in the business of offering office imaging equipment, production print solutions, document management systems and information technology (IT) services. The Company offers multifunctional printers (MFPs). The Company sells products, such as photocopiers, copy printers, laptops and laser printers to various customers under outright sales agreements and it also provides various after-sales services to its customers.

Vakrangee has two segments viz. e-Governance Projects and Vakrangee Kendra. The e-Governance Projects segment offers collection services, such as payment of electricity, telephone and mobiles; recruitment application processing, which includes processing of applications for recruitment of workforce for government related services; issuance of certificates, including online registration and issuance of birth, death and marriage certificates; grievance management services, which enable citizens to issue formal grievance to the government directly or through local agencies, and enrollments such as land record digitization, electoral rolls, payment of utility bills, taxes, levies and others. The Vakrangee Kendra segment includes banking, insurance, e-governance, e-commerce services and white label automated teller machine (ATM) business.