VAKRANGEE SOFTWARE MAY GIVE DECENT RETURN

hello sir,
Can u please give me Ur opinion on vakrangee software? Ask by shri "Dukkipati satish ji
Vakrangee software is a 10 rupees face value share.
Book value of vakrangee software is 128.7 currently traded 70.75 below his book value are good.
Promoter holding of vacrangee software is 19.12 percent is a low promoter holding but FII hold 15.37 percent and promoter increase there holding till dec 2008 to June 2009 so increase in promoter holding a good sign.
This is company traded at P/E of 35 some high valuation due to aspect increase in profit.
Debt/equity ratio of this company is 0.01 very low debt is a good sign.
we like this share because such type of promoter holding situation some time make a acquisitions story if some one try to acquire this company and promoter try to increase his holding may give some decent return to investor and share available below his book value also good so in fundamental view this is a buy

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