Intellect Design Arena rose 4.1% to Rs 287 at 15:20 IST on BSE, with the stock extending recent strong gains triggered by the company announcing the launch of its Digital Distribution Suite for the UK Life and Pension markets.
Meanwhile, the S&P BSE Sensex was down 24.77 points or 0.1% at 25,843.72.
High volumes were witnessed on the counter. On BSE, so far 13.78 lakh shares were traded in the counter as against average daily volume of 5.16 lakh shares in the past one quarter.
The stock hit a high of Rs 302.65 in intraday trade so far, which is record high for the counter. The stock hit a low of Rs 273.50 so far during the day. The stock had hit a 52-week low of Rs 69 on 18 December 2015.
The stock had outperformed the market over the past one month till 20 November 2015, rising 26.01% compared with 5.27% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 45.49 % as against Sensex's 6.3% decline.
The small-cap company has equity capital of Rs 50.30 crore. Face value per share is Rs 5.
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Shares of Intellect Design Arena jumped 21.19% to its current ruling price of Rs 287, in three sessions, from a recent low of Rs 236.80 on 18 November 2015. The recent strong gains was triggered by Intellect SEEC, the insurance software division of Intellect Design Arena after market hours on 18 November 2015 announcing the launch of its Digital Distribution Suite for the UK Life and Pension markets. The Digital Distribution suite is designed to strengthen the customer relationship throughout all touch points of the sales and service process, delivering consistent, high quality customer experience irrespective of channel or device, Intellect Design Arena said.
On a consolidated basis, Intellect Design Arena reported net loss of Rs 7.95 crore in Q2 September 2015, compared with net loss of Rs 11.12 crore in Q1 June 2015. Net sales rose 7.46% to Rs 207.33 crore in Q2 September 2015 over Q1 June 2015.
Intellect Design Arena is a Polaris group company - a global leader in financial technology for banking, insurance and other financial services. A uniquely focused products business, Intellect addresses the needs of financial institutions in varying stages of technology adoption.
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