3i Infotech: Capital push

STOCK IN THE NEWS

The company is planning to issue two crore shares to raise resources from either the domestic or overseas markets.

The stock gained 7.11 per cent to Rs 296 after the board decision and hit its lifetime high of Rs 301 during intra-day trades on Friday. The stock has appreciated by 27 per cent from the week-ago close of Rs 233.60 a week ago.

Last month, the company tied up with Oracle to develop a Technology Centre of Excellence for insurance in Chennai.

Through this partnership, Oracle and 3i Infotech will empower insurers by offering cutting-edge architecture-based technological tools featuring Oracle E-Business Suite, combined with the company's global insurance solution - Premia.