Vakrangee rallies as company announces strategic tie up with Amazon India

NEW DELHI: Shares of Vakrangee rallied 6.65 per cent in intraday trade on Friday on the BSE after the company announced that it has entered into a strategic tie up with Amazon India for its Vakrangee Kendra business. The stock has gained over 47 per cent in the past one month, compared with a 1.7 per cent rise in the BSE 500 index during the same period.

The stock closed the day at Rs 166.45, up 5.05 per cent.

The company has joined hands with Amazon India wherein it shall provide marketing, promotional and pick up services to Amazon through the “Vakrangee Kendras”.

"As part of the agreement, Vakrangee through its various Vakrangee Kendras shall perform marketing and promotional activities which shall include not limiting to introducing and informing customers entering Vakrangee Kendras of and about the Amazon India website, informing and promoting the products available, ensuring that the purchase and confirmation message is successfully received by the customer, following up on the order placed by the customer, if necessary," the company said in a filing to BSE.

The specialty retail company said that it shall also provide pick up services to Amazon India for the products ordered by the customers across India.