FTIL extends recent gains

Financial Technologies (India) was locked at 5% upper circuit at Rs 310.70 at 11:18 IST on BSE, with the stock extending recent upmove.

Meanwhile, the BSE Sensex was up 168.14 points, or 0.82%, to 20,632.20

On BSE, so far 13,197 shares were traded in the counter with pending buy orders of 4.11 lakh shares at upper circuit. The stock has an average volume of 8.77 lakh shares in the past one quarter.

The stock opened with an upward gap, surging by the maximum 5% daily circuit and remained locked at the 5% level at Rs 310.70 so far in the day. The stock hit a 52-week high of Rs 971.30 on 20 February 2013. The stock hit a 52-week low of Rs 102.05 on 30 August 2013.

The stock had underperformed the market over the past one month till 17 February 2014, falling 5.6% compared with the Sensex's 2.85% fall. The scrip had, however, outperformed the market in past one quarter, gaining 95.86% as against Sensex's 0.32% rise.

The small-cap company has an equity capital of Rs 9.22 crore. Face value per share is Rs 2.

Shares of Financial Technologies (India) (FTIL) are on a roll recently, gaining 15.71% in three trading sessions from a recent low of Rs 268.50 on 13 February 2014. The gains were supported by FTIL reporting good Q3 result after market hours on Friday, 14 February 2014.

FTIL's net profit rose 27.6% to Rs 34.48 crore on 10.97% decline in net sales to Rs 79.97 crore in Q3 December 2013 over Q2 September 2013.

FTIL is among the global leaders in offering technology IP (Intellectual Property) and domain expertise to create and trade on next generation financial markets.

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