IRIS Business Services hits the upper circuit on entering into a strategic partnership
Prophix will now offer IRIS CARBON, the company’s compliance reporting SaaS solution to the office of the CFO across its clientele primarily in North America and Europe.
On Tuesday, IRIS Business Services shares hit its upper circuit of 5% at Rs 142.60, up from its previous closing of Rs 135.85 on the BSE.
Strategic partnership with Prophix
IRIS Business Services (IRIS) has entered into a strategic partnership with Prophix, a leading provider of financial performance management software. Prophix will now offer IRIS CARBON, IRIS’ compliance reporting SaaS solution to the Office of the CFO across its clientele primarily in North America and Europe. For the last 20 quarters, IRIS CARBON software has been topping the charts in the USA for the quality of XBRL/iXBRL filings generated by it. It has also been ranked 2nd in terms of ‘Ease of Use’ in the Disclosure Management Software category by G2 Research whose rankings guide the purchase decision of many technology buyers.
Earlier this year, IRIS CARBON won the APPEALIE SaaS Software Award in the mid-market segment. ‘The partnership with Prophix will help it amplify these messages,’ Deepta added, pointing to the client base across 29 countries ranging from Fortune 100 to mid-market and small reporting entities in the US, Europe, UK, Ireland, South Africa, and India.
Incorporated in 2004, IRIS Business Services provides financial information, research, and training solutions to institutional, manufacturing, retail, and other industries. The company has its operational presence in India as well as overseas markets such as the UK, the US, ItalyandSouth Africa. The company has set up regional offices in Singapore, the US and Italy to cater to regional demands for its products and services.
Stock price movement
Today, the stock opened at Rs 135.85 and has touched a high and low of Rs 142.60 and Rs 135.85, respectively. The BSE group ‘B’ stock of face value of Rs 10 has a 52-week high and low of Rs 154.95 and Rs 66.10, respectively. Last one week high and low of the scrip stood at Rs 144.70 and Rs 134.85, respectively. The current market cap of the company is Rs 276.09 crore.
The promoters holding in the company stood at 37.30%, while non-Institutions held 62.70% in the company.
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