New Delhi, Feb. 14 -- Shares of Vakrangee, a LIC-backed penny stock, were locked in their 5 percent upper circuit at Rs.16.71 on Friday, February 14, following the Reserve Bank of India's (RBI) decision to renew its authorisation for White Label ATMs. This marked the second consecutive session that the stock hit its upper circuit.

In an exchange filing on Wednesday, February 12, Vakrangee announced that the RBI had extended the validity of its authorisation to establish, own, and operate White Label ATMs (WLAs) in India until March 31, 2026.

Commenting on the development, Vakrangee's Managing Director, Vedant Nandwana, stated, "We are happy to announce the renewal of authorisation for our White Label ATMs business by the RBI. The ATM se...