Infosys fell 0.3% to Rs 3,243.25 at 9:43 IST on BSE, reversing initial gain triggered by the company announcing that its Finacle core banking solution running on an Oracle SuperCluster engineered system has set new global benchmarks.
The company made the announcement after market hours on Wednesday, 9 April 2014.
Meanwhile, the BSE Sensex was up 52.10 points, or 0.23%, to 22,754.44
On BSE, so far 4,703 shares were traded in the counter, compared with an average volume of 75,478 shares in the past one quarter.
The stock was volatile. The stock rose 0.33% at the day's high of Rs 3,264 so far during the day. The stock fell 0.4% at the day's low of Rs 3,240 so far during the day. The stock hit a record high of Rs 3,847.20 on 3 March 2014. The stock hit a 52-week low of Rs 2,190 on 29 April 2013.
The stock had underperformed the market over the past one month till 9 April 2014, falling 13.04% compared with the Sensex's 3.57% rise. The scrip had also underperformed the market in past one quarter, falling 5.74% as against Sensex's 9.6% rise.
The large-cap company has equity capital of Rs 287.12 crore. Face value per share is Rs 5.
Infosys after market hours on Wednesday, 9 April 2014, announced that its Finacle core banking solution running on an Oracle SuperCluster engineered system has set new global benchmarks for the number of transactions processed across key banking functions. In a test that was audited and reviewed by the global audit firm, Ernst & Young, the solution supported over 1.9 billion bank accounts with near linear scalability - a number higher than the current population of China, the most populous country in the world.
The test also saw Finacle processing 726 million effective transactions in four hours, or over 50,000 average transactions per second, to manage workloads comprising of multiple online transactions and customer touch points as well as third-party systems. This represents six times the daily volume of transactions currently processed by the entire US banking system, based on industry estimates of transaction volumes. These results highlight Finacle's capabilities to help banks manage extremely large transaction volumes and cater to a dynamically growing customer base at lower costs, Infosys said.
Additionally, Infosys Finacle has earned the Oracle SuperCluster Optimized status through Oracle PartnerNetwork (OPN), demonstrating that Finacle has been tested and tuned on Oracle SuperCluster to deliver speed, scalability, and reliability to customers. Infosys is a Diamond level member of Oracle PartnerNetwork, Infosys said.
Haragopal M, Senior Vice President and Global Head - Finacle, Infosys said "Efficient performance and robust scalability are critical requirements for banks to manage growth globally. The current lab benchmarks demonstrate Finacle's prowess in consistently processing large volumes of transactions across critical banking functions. With Finacle, banks can now scale without worrying about managing exponential increases in business volumes and operational costs."
David Hicks, Vice President, Worldwide ISV, OEM and Java Business Development, Oracle said "Oracle Exastack Optimized recognizes partners who have optimized their solutions on a complete, integrated and cloud-ready infrastructure in order to help them accelerate innovation, unlock new features and functionality, and deliver superior value to users. By achieving Oracle SuperCluster Optimized status, Infosys has demonstrated that its Finacle core banking solution is tested and tuned to work with Oracle SuperCluster to help deliver performance, scalability, and reliability to their customers. With the latest benchmark figures achieved with Oracle SuperCluster, Finacle has demonstrated its ability to support near linear growth in transaction volume and customer base for retail banking."
Infosys' consolidated net profit jumped 19.4% to Rs 2875 crore on 0.5% increase in revenue to Rs 13026 crore in Q3 December 2013 over Q2 September 2013. The results are as per International Financial Reporting Standards (IFRS). Operating profit rose 14% to Rs 3620 crore in Q3 December 2013 over Q2 September 2013 on back of expansion in operating profit margin (OPM) by a sharp 330 basis points QoQ at 27.8% in Q3 December 2013. The OPM expanded by 170 basis points QoQ, excluding one-off visa cost of Rs 219 crore in Q2 September 2013.
Infosys is a global leader in consulting, technology and outsourcing solutions.
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