 "Intellect Design Arena hits record high; surges over 70% in nine days")
Shares of Intellect Design Area have surged by 16% to Rs 189 on the BSE on the back of heavy volumes after the company said that it has implemented its intellect custody solution in Commercial International Bank (CIB), the largest private-sector bank in Egypt.
Intellect Design Arena is a Polaris Group company, a global leader in financial technology for banking, insurance and other financial services.
The stock has touched a record high of Rs 193 on the BSE in intra-day trades and has seen an over two-fold jump in trading volumes. A combined 5.79 million shares changed hands as against an average sub-two million shares that were traded daily in the past two weeks on the BSE and NSE.
The stock has rallied by 72% from Rs 112 in the past nine trading sessions since July 27, after the company reduced its consolidated net losses to Rs 11 crore in June 2015 quarter from Rs 29 crore in the previous quarter.
S Swaminathan, Chief Financial Officer, Intellect Design Arena Limited, said, “We are on track to meet our guidance of revenue growth of 22% to 26% this year. We are managing investments in digital platforms and market opportunities for sustained growth”.
Intellect Design Arena is a Polaris Group company, a global leader in financial technology for banking, insurance and other financial services.
The stock has touched a record high of Rs 193 on the BSE in intra-day trades and has seen an over two-fold jump in trading volumes. A combined 5.79 million shares changed hands as against an average sub-two million shares that were traded daily in the past two weeks on the BSE and NSE.
The stock has rallied by 72% from Rs 112 in the past nine trading sessions since July 27, after the company reduced its consolidated net losses to Rs 11 crore in June 2015 quarter from Rs 29 crore in the previous quarter.
S Swaminathan, Chief Financial Officer, Intellect Design Arena Limited, said, “We are on track to meet our guidance of revenue growth of 22% to 26% this year. We are managing investments in digital platforms and market opportunities for sustained growth”.
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