i-flex Rises A Tad On New Order

Mumbai, February 26: | Updated: Feb 27 2003, 05:30am hrs
The stock of i-flex saw a marginal rise of 0.6 per cent on Tuesday after its noted banking product Flexcube won a fresh order from a Zimbabwe-based bank. On The Stock Exchange, Mumbai (BSE), i-flex closed at Rs 804.85 as against its previous close at Rs 799.35. A total number of 42,267 shares of i-flex changed hands on the counter.

Dealers said the stock has been witnessing volatile trends after staging a smart rally from its July 2002 low of Rs 450.

The stock has been boosted by a number of order wins for Flexcube over the last few months and also due to the entry of i-Flex in the US markets, which is one of the largest markets for the banking, financial and insurance space, dealers further said.

As per reports, i-Flex announced that First Banking Corporation Zimbabwe has selected Flexcube to upgrade its existing IT infrastructure and centralise its operations.

As per the companys announcement, the bank will be deploying Flexcube Core Module, Flexcube Corporate, Channels, Flexcube Investor Services, Flexcube Dealer and Flexcube @-Internet Banking Application.

Analysts remain enthused about the future performance of banking solution specialists, as i-flex is planning an added focus on the emerging areas of consumer banking technology in the areas of customer interaction and customer knowledge with a view to providing value-added service to its global banking clients.