Yes, all-nighter neighbourhood parties centred around prayer and group singing of religious music have been an integral part of Hindu religious practice for a long time. They are literally called “jaagran” (‘keeping awake’) or “jagraataa” (‘night-wake’).
Although tracing this forward I see the obvious derivatives (vajra, vaaja) and it would be peculiar, but not unheard of, for the word to take two mutations.
