Dion Global jumps after bagging contract

Dion Global Solutions jumped 8.38% to Rs 74.40 at 12:25 IST on BSE after the company announced that Bank of Cyprus chose its case & control management solution, FinCASE.

The announcement was made during market hours today, 22 June 2016.

Meanwhile, the BSE Sensex was down 14.52 points, or 0.05%, to 26,795.69.

High volumes were witnessed on the counter. On BSE, so far 47,672 shares were traded in the counter, compared with an average volume of 8,486 shares in the past one quarter. The stock hit a high of Rs 78.80 and a low of Rs 70.60 so far during the day. The stock hit a record high of Rs 204.70 on 10 July 2015. The stock hit a 52-week low of Rs 63 on 25 May 2016. The stock had underperformed the market over the past one month till 21 June 2016, falling 22.99% compared with the Sensex's 5.97% rise. The scrip had also underperformed the market in past one quarter, declining 11.08% as against Sensex's 6.04% rise.

The small-cap company has an equity capital of Rs 32.23 crore. Face value per share is Rs 10.

Bank of Cyprus chose FinCASE for the automation of payment investigations and bank to bank charges. FinCASE is a scalable and flexible application suite designed to assist financial institutions with a broad range of requirements for automating specific processes to an enterprise wide solution for tracking of all kinds of issues and queries.

Dion Global Solutions reported consolidated net loss of Rs 53.13 crore in Q4 March 2016 compared with consolidated net loss of Rs 15.23 crore in Q3 December 2015. Net sales fell 25.5% to Rs 42.35 crore in Q4 March 2016 over Q3 December 2015.

Dion is a global financial technology company. The company provides a broad range of solutions that meet specific business needs across the financial markets.

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