Vakrangee shares rally 10% as smallcap firm signs agreement with Max TV

Shares of Vakrangee Ltd climbed over 10 per cent in Friday's trade after the smallcap firm entered an agreement with Global One Enterprises Pvt Ltd (Max TV) for offering subscription-based OTT Plans through Vakrangee Kendra

networks. The stock, which is up 23 per cent in the past one month and 53 per cent in the last six, surged 10.31 per cent to hit a high of Rs 26.73 on BSE.

Max TV specialises in providing IPTV/OTT Services in India. The platform features over 300 Indian FTA channels, 1000 international channels and over 200,00 hours of curated content of web series, movies, music, live darshans, documentaries and much more.

"Furthermore, they have arrangements with ALL the major OTT platforms of India, like SONY, DISNEY HOTSTAR, ZEE and over 15 other popular OTT platforms like, Shemaroo, Hungama, etc. Through this tie-up Max TV will be able to cross sell various bundled plans to unserved & underserved areas of the Country through Vakrangee Kendra networks," Vakrangee told stock exchanges.

Vakrangee Kendras are exclusive Branded format outlets offering a comprehensive range of products and services across banking, insurance, ATM, assisted e-Commerce, e-Governance and Total Healthcare. With 84 per cent of Vakrangee Kendra outlets in Tier-4 to 6 locations, this association would help Vakrangee to allow its customers to get access to OTT Services in the most remote parts of the country.

"We will continue to add more products and services and tie-up with leading business partners to offer our customers a one-stop solution to all their needs. We are aspiring to be the most trustworthy physical as well as online convenience store across India and positively moving towards Vakrangee Kendra’s new brand philosophy of ‘AB Poori Duniya Pados Mein’," Vakrangee said.