IT stock engaged in providing IT and consultancy services, lending and transaction banking products hit a 20 percent upper circuit in the day’s trade following announcement to consider Buyback of Equity shares of the company.
Price Action
With a market capitalization of Rs. 3,779 Crores, the shares of Nucleus Software Exports Limited hit a 20 percent upper circuit at Rs. 1,411.55, from its previous day’s close price of Rs. 1,176.30. It has delivered a return of 38 percent in a year.
What Happened
The Board of Directors of Nucleus Software Exports Limited are scheduled to meet on August 22, 2024, to consider the proposal for Buy Back of Equity Shares of the Company including matters related/incidental thereto in accordance with the applicable provisions.
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About the Company
Nucleus Software Exports Limited is an IT company in the Banking and Financial Services sector engaged in providing IT and consultancy services, lending and transaction banking products.
Its software powers the operations of more than 200 Financial Institutions in over 50 countries, supporting retail lending, corporate banking, cash management, mobile and internet banking, automotive finance and other business areas.
Its two flagship products include FinnOne Neo and FinnAxia. FinnOne Neo suite is an end to-end solution for lending businesses and FinnAxia suite offers an enterprise solution for the transaction banking operations of corporate banks
Financials and Ratios
Its Revenue from operations declined by 5.52 percent from Rs. 207 Crores in Q1FY24 to Rs. 195 Crores in Q1FY25, accompanied by profits of Rs. 54 Crores to Rs. 30 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 24 percent, and a return on capital employed (ROCE) of 32 percent. It has reported a debt-to-equity ratio of 0.01.
Written by: Bharath K.S
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