Financial Technologies hardens on overseas acquisition

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MAY JOIN RACE FOR SHELL'S EUROPEAN REFINERIES: SOURCES
SENSEX, NIFTY UP 1% EACH FOR THE WEEK
CNX MIDCAP INDEX UP 1%, BSE SMALLCAP INDEX UP 1.6%
METAL INDEX UP 3.7%, AUTO INDEX UP 2.3%, FMCG UP 1.5%
INDEX GAINERS: SUZLON UP 9.3%, TATA STEEL UP 6.3%, SAIL UP 5.3%
RIL SPOKESPERSON TO NDTV: 'REVIEWS CANNOT ASSURE TRANSACTIONS'
RIL SPOKESPERSON: 'WE ARE REVIEWING A NUMBER OF GLOBAL OPPORTUNITIES'
ESSAR-SHELL IN EXCLUSIVE NEGOTIATIONS TILL NOV 30 TO BUY 3 SHELL REFINERIES
APPROACHED SHELL FOR BUYOUTS BEFORE ESSAR'S EXCLUSIVE TALKS BEGUN
JSW ENERGY ALSO IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
CESC, SREI INFRA IN RACE FOR ANDREW YULE'S DPSC STAKE: NW
GAMMON INFRA BAGS NHAI PROJECT WORTH RS.850 CRORES
NET PROFIT AT RS.48.2 CR VS RS.12 CR; SALES UP 55% AT RS.849 CR (YOY)
PROFIT UP 55% AT RS.143.50 CR; NET SALES UP 22.5% AT RS.2234.20 (YOY)
IMPORTING SUGAR BEING REVIEWED; NEED FOR ECONOMIC PRICING OF SUGAR
IN DISCUSSIONS WITH FARMERS TO COME AT PRICE COMFORTABLE FOR BOTH SIDES
TOO EARLY TO TALK OF DENA BANK MERGER WITH ANOTHER PSU BANK: NW
KEEPS OVERNIGHT LENDING RATE UNCHANGED AT 0.1%
STILL SEE DOWNSIDE RISK FOR THE ECONOMY
AIM TO CONVERT NON USERS TO USERS WITH THE HELP OF ROAMING TARIFF CUTS
PREFER TO REMAIN AGGRESSIVE WITHOUT GETTING INTO A PRICE WAR
MURTAZA KHORAKIWALA TO NDTV: CANNOT COMMENT ON SUB JUDICE MATTER
WOCKHARDT TO PAY BACK ALL SECURED, UNSECURED LOANS IN 5 YRS AS PER CDR
DBS TOP BRASS MET HABIL KHORAKIWALA TO DISCUSS WAYS OF SETTLEMENT: SRCS
EYEING TO SETTLE PAYMENT DEFAULT CASE OUT OF COURT: SOURCES
ALERT: ROAMING CONTRIBUTES 15% OF BHARTI REVENUES
ROAMING CALLS ON OTHER NETWORKS AT 80 PAISE/MINUTE
ROAMING CALLS ON OWN NETWORK AT 60 PAISE/MIN
SWAP TO REDUCE OVERALL FINANCE CHARGES FOR THE COMPANY: CFO
COMPLETES SWAP OF $875MN FOREX CONVERTIBLE BONDS

Updated: 10/04/2008 | 12:00 AM IST

Software

Capital Market

Thursday, April 10, 2008 (New Delhi)

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The company made this announcement during trading hours today, 10 April 2008.

Meanwhile, the BSE Sensex was up 39.69 points, or 0.25%, to 15,830.20.

On BSE, 41,458 shares were traded in the counter. The scrip had an average daily volume of 29,360 shares in the past one quarter.

The stock hit a high of Rs 1739.35 and a low of Rs 1690 so far during the day. The stock had a 52-week high of Rs 3048 on 29 June 2007 and a 52-week low of Rs 1340 on 24 March 2008.

The mid-cap scrip had outperformed the market over the past one month till 9 April 2008, gaining 1.91% compared to the Sensex’s fall of 2.06%. It had underperformed the market in the past one quarter, declining 28.15% compared to Sensex’s decline of 23.28%.

In March 2008, Financial Technologies said foreign funds FMR LLC and FIL acquired a further 0.17% stake in the company to raise their total holdings to 10.13%.

The company’s current equity is Rs 9.18 crore. Face value per share is Rs 2.

The current price of Rs 1713 discounts its Q3 December 2007 EPS of Rs 469.46 by a PE multiple of 3.65.

ICX Platform owns IPR and corporate ownership of electronic warehouse receipts technology.

Financial Technologies India's net profit surged 58.63% to Rs 536.95 crore on 27.24% growth in net sales to Rs 39.38 crore in Q3 December 2007 over Q2 September 2007.

Financial Technologies develops software solutions used in online trading terminals. Multi Commodity Exchange of India (MCX), IBS Forex and Tickerplant Infovending are the subsidiaries of the company.