Vakrangee upbeat on foreign tie-up talk
Vakrangee Software is believed to be in talks with global digital printing giants such as Xerox and Kodak for a tie-up in India.
By TNN |
Vakrangee Software is believed to be in talks with global digital printing giants such as Xerox and Kodak for a tie-up in India. The company’s stock, which has nearly halved since December 2006, has risen roughly 22% in a month. On Tuesday, it closed at Rs 169.35, down 2.1%.
While details of the likely deal was not available, people familiar with the development said the tie-up could involve sharing of technology and business. Vakrangee’s president Sanjeev Baranwal declined to comment on the same. The company is engaged in software development for various government departments and data management of elections. While a chunk of Vakrangee’s revenues comes from contracts by government and semi-government departments, the talk is that the company is planning to diversify into the private sector to broaden its revenue base.
While details of the likely deal was not available, people familiar with the development said the tie-up could involve sharing of technology and business. Vakrangee’s president Sanjeev Baranwal declined to comment on the same. The company is engaged in software development for various government departments and data management of elections. While a chunk of Vakrangee’s revenues comes from contracts by government and semi-government departments, the talk is that the company is planning to diversify into the private sector to broaden its revenue base.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
