The company made this announcement during trading hours today, 8 May 2008.
Meanwhile, the BSE Sensex was down 256.52 points, or 1.48%, to 17,082.79 on negative cues from global markets. US markets suffered sharp losses on Wednesday, 7 May 2008, on worries about inflation and higher interest rates as oil jumped to a record.
On BSE, 16,552 shares were traded in the counter. The scrip had an average daily volume of 20,093 shares in the past one quarter.
The stock hit a high of Rs 1351 so far during the day. The stock had a 52-week high of Rs 2630 on 2 July 2007 and a 52-week low of Rs 892 on 24 March 2008.
The mid-cap scrip had outperformed the market over the past one month till 7 May 2008, gaining 36.08% compared to the Sensex’s return of 11.24%. It had also outperformed the market in the past one quarter, rising 31.50% compared to Sensex’s decline of 1.07%.
The company’s current equity is Rs 41.87 crore. Face value per share is Rs 5.
The current price of Rs 1335 discounts its Q4 March 2008 annualised EPS of Rs 78.97, by a PE multiple of 16.91.
TAIB Bank will use Reveleus Basel II solution to compute regulatory capital and Reveleus Asset Liability Management (ALM) solution to manage liquidity and interest rate risks.
In April 2008, i-flex said Israel Discount Bank, one of the leading financial groups in Israel selected Flexcube, its core-banking platform for its UK operations.
In March 2008, i-flex said Lien Viet Bank, Vietnam selected Flexcube, its core banking solution for its banking operations.
On 22 February 2008, Vietnam's FPT bank selected i-flex’s universal banking solution Flexcube for retail and corporate banking operations in Vietnam.
On 19 February 2008, i-flex said OTP Bank, Hungary's largest retail bank, selected its banking solution Flexcube for its retail, lending and corporate banking businesses.
i-flex Solutions’ net profit rose 49.23% to Rs 165.32 crore on 13.07% rise in net sales to Rs 516.42 crore in Q4 March 2008 over Q3 December 2007.
The company provides information technology solutions to the financial service industry worldwide.