This S&P BSE Smallcap stock has a market cap of Rs. 2,800 crore and rose 4.3% within the first hour of markets open with volumes that are 2.3x previous session’s and 1.2x monthly average volumes. The stock gained after announcing that it has partnered with Mahindra Rural Housing Finance for its software. The stock trades 2% above its moving average and 78% above its 200 day moving average and is 18% away from its 52 week high.
Nucleus Software Exports Ltd announced in a filing dated 5th September 2023 that Mahindra Rural Housing finance a subsidiary of Mahindra & Mahindra Financial Services Limited has gone live on Nucleus Software’s FinnOne Neo™ to enable seamless and robust digital lending operations. It further added that the partnership will enable paperless operations from sourcing, loan disbursement to servicing. Additionally, it will ensure a robust and automated credit decisioning for intelligent risk management.
FinnOne NeoTM will digitally transform the lending landscape for Mahindra Rural Housing Finance with Paperless operations from sourcing, loan disbursement to servicing, Enhancing business agility and to enable sustainable growth, robust and automated credit decisioning for intelligent risk management. FinnOne NeoTM, the comprehensive and composable digital lending platform will act as a supplement to Mahindra Rural Housing Finance’s digital transformation agenda.
Nucleus is a multibagger, returning 173% YTD, 160% and 110% in a 1 year and 3 year periods respectively. Meaning if you invested Rs. 1 lakh into Nucleus at the start of 2023 it would ave now been worth Rs. 2.7 lakh!
Nucleus Software provides lending and transaction banking products to global financial leaders. Nucleus Software powers the operations of 200+ Financial Institutions in 50+ countries Nucleus Software has been a pioneer in creating strong financial technology products and has completed three decades of creating Intellectual Property on Indian soil. Nucleus Software’s flagship products, built on the latest technology are FinnOne Neo™, FinnAxia™ and PaySe™.
Written by Sandeep R
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