This small cap stock surged nearly 2.5% and reached its 52- week high after it launched iQuantum Treasury 23 on September 4,2023, a treasury solution used in front-mid-back office and designed specifically for central banks all around the globe.
Share price of Intellect Design Arena Limited opened at Rs. 730.10 levels. It gained nearly 2.5% to reach its 52- week high of Rs. 747 levels. The stock has returned 60.81% in the last six months and a total of 291% in the last three years.
Intellect Global Central and Consumer Banking which is a central and consuming banking arm of Intellect Design Arena Limited announced the launch of its new treasury solution mainly for Central Banks, named iQuantum Treasury 23.
The creation will also provide support in Reserve Portfolio Management Solution. The latest version comes with enhanced security features, IMF’s Special drawing rights management, Advanced Portfolio Management, and many more. The treasury solution processes USD 15 Trillion worth of transactions every month for banks worldwide.
The company has a market capitalization of Rs. 9957.46 crore. After comparing on a QoQ basis, the revenue for Q1FY24 can be noted with an increase of 0.38% to Rs. 639.38 crore from Rs. 615.5 crore in Q4FY23. The net profit rose 3.09% to Rs. 93.47 crore in Q1FY24 from Rs. 90.66 crore in Q4FY23. The company maintains a low debt to equity ratio of 0.
Intellect Design Arena Limited is a software company which acts as a platform for leaders and professionals in banking, capital markets and insurance. It offers all kinds of technology products related to banking and insurance. The company has its three lines of business which includes, Intellect Global Transaction Banking, Intellect Global Consumer Banking and Intellect AI.
Written by Bhumika Khandelwal
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
