Shares of Vakrangee gained 4 percent in intraday trade on Friday as the company announced its alliance with Reliance Nippon Life Asset Management. The said alliance will cater to distribution of mutual fund products on a pan-India level.
The company plans to offer the mutual funds products to the un-served and under-served areas through the Kendras thereby extending the reach of Reliance Mutual Fund.
The firm is of the opinion that this association will help them broaden the base of their basket of services offered to the citizens through their Kendras.
In the previous trading session, the share closed down 4.81 percent or Rs 2.65 at Rs 52.45.
Vakrangee gains 4% on alliance with Reliance Nippon Life Asset Management
It has touched an intraday high of Rs 54.50 and an intraday low of Rs 52.80.
At 09:45 hrs the stock was quoting at Rs 53.00, up Rs 0.55, or 1.05 percent.