Nucleus Software Exports spurts after partnering with Microsoft

Nucleus Software Exports rose 14.98% to Rs 294 at 12:06 IST on BSE after the company announced partnership with Microsoft to deliver cloud-based lending solution globally.

The result was announced during trading hours today, 13 August 2015.

Meanwhile, the BSE Sensex was up 91.03 points, or 0.33%, to 27,603.29.

On BSE, so far 2.60 lakh shares were traded in the counter, compared with an average volume of 96,044 shares in the past one quarter.

The stock hit a high of Rs 298.80 and a low of Rs 256.70 so far during the day. The stock hit a 52-week high of Rs 353 on 28 July 2015. The stock hit a 52-week low of Rs 160.20 on 26 March 2015.

The stock had underperformed the market over the past one month till 12 August 2015, falling 15.94% compared with 0.54% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 2.53% as against Sensex's 2.36% rise.

The small-cap company has an equity capital of Rs 32.38 crore. Face value per share is Rs 10.

Nucleus Software, the leading provider of lending and transaction banking solutions to the global financial services industry, announced its strategic partnership with Microsoft to deliver the latest version of the best-selling lending software in the world, FinnOne Neo, on Microsoft Azure.

The global banking and financial services industry is undergoing a major transformation driven by growing competition and new technology. The growth of cloud technology is emerging as a key driver for change, allowing established players and new competitors alike to respond to customer needs with innovative products and easy availability of services with low overheads. As a result cloud computing services are becoming popular across the banking landscape as they reduce complexity and costs while improving agility for delivering banking solutions.

According to a recent Ovum report, over 60% of the retail banks across the globe are spending between 20%-39% of their new IT spending on software-as-a-service; infrastructure-as-a-service and platform-as-a-service for easy access to a range of scalable, cost-effective IT solutions, increased speed to market of new offerings and simplified IT infrastructure with reduced overheads.

Microsoft is the worldwide leader in software, services, devices and solutions that help people and businesses realise their full potential.

On a consolidated basis, Nucleus Software Exports' net profit dropped 67.09% to Rs 6.79 crore on 15.93% decline in total income from operations (net) to Rs 84.82 crore in Q1 June 2015 over Q4 March 2015.

Nucleus Software provides lending and transaction banking software products to the global financial services industry. Its software powers the operations of more than 150 companies in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas.

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