Vakrangee extends gain on tie-up with Tata AIG General Insurance

Shares of Vakrangee moved higher by 4% to Rs 205, extending its over 7% gain in past two trading sessions on the BSE, after the company announced that its Corporate Agency has tied up with Tata AIG General Insurance Company, a joint venture between Tata Group and American International Group (AIG).

The stock is currently trading at its 52-week high and rallied 12% in past three trading sessions from Rs 183 on January 29, 2016. The S&P BSE Sensex declined 2.2% during the same period.

The tie up will help to distribute quality general insurance products through Vakrangee distribution network, the company said in a media release.

"By this tie-up, citizens, especially in un-served and underserved areas shall now be able to access quality general insurance products offered by Tata AIG General Insurance Company,” it added.

Till 10:23 AM, a combined 1.18 million shares changed hands on the counter on the BSE and NSE.

 


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