Intellect Design zooms 20% on multi-million dollar deal with an Asian bank

The stock locked in upper circuit of 20% at Rs 244, also its 52-week high on the BSE on back of heavy volumes.

Shares of Intellect Design Arena is locked in the upper circuit of 20% at Rs 244 per share, also their 52-week high on the BSE, after the IT company announced a multi-million dollar deal with a leading bank in Asia with a strong foothold in Singapore, Malaysia, Indonesia, Thailand and China.

“The company has signed a significant multi-million dollar deal with leading bank in Asia market with a strong foothold in Singapore, Malaysia, Indonesia, Thailand and China to implement world's first Integrated Trade Finance and Supply Chain Finance (SCF) Platform,” Intellect Design Arena said in a press release.