Intellect Design Arena gained 2.15% to Rs 118.70 at 11:10 IST on BSE after the company said that it has signed a ten year deal with one of Australia's big four bank.
The announcement was made during market hours today, 24 May 2017.Meanwhile, the S&P BSE Sensex was up 137.91 points or 0.45% at 30,503.16. The S&P BSE Small-Cap index was up 71.68 points or 0.49% at 14,841.54.
On the BSE, 56,993 shares were traded on the counter so far as against the average daily volumes of 1.6 lakh shares in the past one quarter. The stock had hit a high of Rs 121.50 and a low of Rs 115.80 so far during the day.
The stock had hit a 52-week high of Rs 233 on 28 July 2016 and a 52-week low of Rs 107.75 on 15 February 2017.
The stock had underperformed the market over the past one month till 23 May 2017, falling 6.18% compared with Sensex's 3.41% gains. The scrip had also underperformed the market in past one quarter, advancing 1.84% as against Sensex's 5.1% rise.
The small-cap company has equity capital of Rs 50.90 crore. Face value per share is Rs 5.
Intellect Design Arena said that it has signed a ten year deal with one of Australia's 'Big Four', banking firm to implement its integrated trade finance, treasury and retail remittance solution for the bank's corporate and retail customers in one of its offshore regions.
The bank has also entrusted Intellect with solution's maintainence and technical support-beginning a ten year relationship between the two firms.
Intellect Design Arena reported net loss of Rs 24.93 crore in Q4 March 2017, compared with net loss of Rs 21.59 crore in Q3 December 2016. Net sales rose 8.88% to Rs 135.99 crore in Q4 March 2017 over Q3 December 2016.
Intellect Design Arena is a digital technology product solutions provider to the banking and insurance industry.
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