Online trading

Subsidiary of Vakrangee, partner of Upstox to offer online trading services

Vakrangee Digital Ventures, a wholly owned subsidiary of Vakrangee, has entered into an alliance with Upstox (RKSV Securities India), an India-based investment platform, to offer online trading account opening services through its mobile application BharatEasy.

This combination will provide a range of financial solutions to customers across the country. The collaboration will provide Vakrangee’s partners with access to a large customer base and the network it possesses, helping it tap into the untapped market and diversify its base. Vakrangee will also provide the service from its physical Vakrangee Kendras network.

Vakrangee, through its BharatEasy Super and Nextgen Kendras app, will now be able to provide online trading account opening services in remote parts of the country. By downloading Vakrangee’s BharatEasy Super App mobile application, customers would have access to a wide range of products and services, which would greatly reduce their need to switch between multiple applications. This would lead to superior customer experience and customer convenience.

Upstox offers online investing in stocks, derivatives, commodities, currencies, mutual funds and ETFs for investors and traders.

On a consolidated basis, the company reported a 100.9% increase in net profit to Rs 26.74 crore on a 195% increase in net sales to Rs 207.19 crore in Q2 FY22 compared to Q2 FY21.

Shares of Vakrangee declined by 2.48% to close at Rs 37.30 on Friday, December 17, 2021. Vakrangee offers a wide range of services in various sectors by providing BFSI, ATM, e-commerce and logistics services through its Vakrangee Kendras.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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