Intellect Design Arena rose 1.15% to Rs 123.50 at 14:29 IST on BSE after the company said that Central Bank of Armenia has chosen the company's banking platform for its digital transformation.
The announcement was made during market hours today, 17 April 2017.Meanwhile, the S&P BSE Sensex was down 69.12 points or 0.23% at 29,392.33. The S&P BSE Small-Cap index was up 37.79 points or 0.25% at 14,918.95.
On the BSE, 1.23 lakh shares were traded on the counter so far as against the average daily volumes of 1.87 lakh shares in the past one quarter. The stock had hit a high of Rs 126.50 and a low of Rs 121.50 so far during the day.
The stock had hit a 52-week high of Rs 252.10 on 3 May 2016 and a 52-week low of Rs 107.75 on 15 February 2017. It had outperformed the market over the past one month till 13 April 2017, advancing 5.44% compared with the Sensex's 1.78% rise. The scrip had, however, underperformed the market over the past one quarter, declining 14.79% as against the Sensex's 8.16% rise.
The small-cap company has equity capital of Rs 50.87 crore. Face value per share is Rs 5.
Intellect Design Arena said that Central Bank of Armenia (CBA) chosen the company's Quantum Central Banking Platform for its digital transformation. CBA is the primary financial institution in the Republic of Armenia.
Intellect's Quantum Central Banking System will help CBA to streamline its business processes across multiple departments and external entities.
Intellect Design Arena reported net loss of Rs 21.59 crore in Q3 December 2016, compared with net loss of Rs 13.36 crore in Q2 September 2016. Net sales declined 0.8% to Rs 124.89 crore in Q3 December 2016 over Q2 September 2016.
Intellect Design Arena is a digital technology product solutions provider to the banking and insurance industry.
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