Intellect Design Arena hits 52-week high on a new partnership for corporate banking modernisation
The company has deployed its Cash Management System built on eMACH.ai to bolster the Corporate Banking Modernisation of the Indian Bank
On Monday, Intellect Design Arena surged by 5.55% to hit a fresh 52-week high of Rs 790, from its previous closing of Rs 748.45 on the BSE.
Bolstering the Corporate Banking Modernisation
Intellect Design Arena has partnered with Indian Bank. The Bank has chosen Intellect’s eMACH.ai powered Cash Management System to bolster its Corporate Banking Modernisation. This strategic partnership is a pivotal moment - adding another feather to Intellect’s growing footprint in the Indian BFSI industry, rendering the capabilities of a cognitive enterprise for revolutionising transaction banking.
Indian Bank is one of the leading government-owned banks in India with a network of 4900 ATMs and 5798 domestic branches, serving over 100 million customers with 41,000+ employees and $140+ billion worth of assets. Indian Bank has always been a forerunner in offering digital products and emphasises leveraging operational efficiencies, cost synergies and new opportunities in terms of brand and reach to deliver enhanced customer experience.
Intellect Design Arena, a global leader when it comes to applying true digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products.
Stock price movement
At 2:30 pm, Intellect Design Arena shares were trading at Rs 778.75, up by 4.05% from its previous closing. Today, the stock opened at Rs 752.75 and has touched a high and low of Rs 790.00 and Rs 751.00 respectively. The BSE group ‘A’ stock of face value of Rs 5 has a 52-week high and low of Rs 790.00 and Rs 388.00, respectively. Last one week high and low of the scrip stood at Rs 790 and Rs 739, respectively. The current market cap of the company is Rs 10,639.02 crore.
The promoters holding in the company stood at 30.42%, while Institutions and Non-Institutions held 28.29% and 41.29% respectively.
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