The counter rose in morning trades following reports of the company is entering into a global strategic alliance with IBM for its flagship product Flexcube. Under the terms of the alliance, i-flex will make available its IT banking solution Flexcube for retail banking.
Flexcube has been the key driver of earnings over the last couple of years for the company. Morgan Stanley Capital International (MSCI) also added i-flex to its Standard Index series last week.
