The company made this announcement during trading hours today, 15 May 2008.
Meanwhile, the BSE Sensex was up 259.21 points, or 1.53%, to 17,237.56, following a rise in US stocks on Wednesday, 14 May 2008, after data showed US consumer prices rose a smaller-than-expected 0.2% in April 2008. The data helped ease fears of an inflationary spurt triggered by soaring oil prices and suggested that the Federal Reserve might have more latitude to keep interest rates at 2%.
On BSE, 57,781 shares were traded in the counter. The scrip had an average daily volume of 23,054 shares in the past one quarter.
The stock hit a high of Rs 1415 and a low of Rs 1342 so far during the day. The stock had a 52-week high of Rs 2630 on 2 July 2007 and the stock hit 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 14 May 2008, gaining 22.36% compared to the Sensex’s return of 5.11%. It had also outperformed the market in the past one quarter, gaining 35.46% compared to Sensex’s decline of 4.44%.
The company’s current equity is Rs 41.87 crore. Face value per share is Rs 5.
The current price of Rs 1362.05 discounts its Q4 March 2008 annualised EPS of Rs 78.97, by a PE multiple of 17.25.
On 8 May 2008, i-flex said TAIB Bank, a leading bank in the Middle East selected its Reveleus Basel II and Reveleus Asset Liability Management solutions.
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.