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Intellect Design Arena gains on sale of subsidiary

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was up 2.62% to Rs 272 at 14:13 IST on the BSE, after the company announced that it had sold its subsidiary

The announcement was made after market hours yesterday, 13 June 2019.

Meanwhile, the was down by 203.52 points, or 0.51% to 39,537.84.

On the BSE, 46,000 shares were traded in the counter so far compared with average daily volumes of 44,000 shares in the past two weeks. The stock had hit a high of Rs 277.50 and a low of Rs 265.80 so far during the day. It hit a 52-week high of Rs 283.20 on 14 September 2018 and a 52-week low of Rs 151.10 on 18 February 2019.

said that its subsidiary SFL Properties, vide a share purchase agreement dated 13 June 2019, has been divested to a third party for a sale consideration of Rs 20.50 crore at arms length basis.

reported a 66.1% rise in the consolidated net profit to Rs 42.98 crore on a 28.9% rise in the consolidated net sales to Rs 395.62 crore in Q4 March 2019 over Q4 March 2018.

Intellect Design Arena has a comprehensive portfolio of products across Global Consumer Banking, Central Banking, Risk & Treasury Management, and Insurance and is engaged in the business of

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, June 14 2019. 14:17 IST
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