Nucleus Software Exports Limited shares are trading firm after a bright start following an announcement from the company that it has bagged a contract from Finova Capital, a Jaipur-based non-banking financial company.
The company said that its loan life cycle management solution, 'FinnOne Neo Cloud', has been selected by the Jaipur firm for setting up a completely automated and paperless loan processing capability.
Commenting on the development, Nucleus Software CEO Vishnu R Dusad said that the company is proud to be in a position to help Finova Capital in their mission to improve the quality of life for the lower income segment in India. He added that the company's success with FinnOne Neo cloud in the leading NBFC's in India shows the company has the right experience and technology.
Nucleus Software advanced to Rs 309.10 (on BSE), and is currently at Rs 304, up 1.2% from its previous closing price. On the National Stock Exchange, the stock touched a high of Rs 310.
On the National Stock Exchange, the Nucleus Software shares are up 0.5% at Rs 302.50.
The stock, which touched a high of Rs 344,40 on 22 May 2017, declined to around Rs 270 by the second week of August, and has been slowly inching ahead after that. It now looks the stock may well go on to breach that high in the near to medium term.
In the quarter ended June 2017, Nucleus Software had posted consolidated net profit of Rs 11.51 crore, down as much as 43.57% compared to the year-ago quarter. Net sales saw a marginal 0.67% increase at Rs 94,32 crore in the June 2017-18 quarter, over the corresponding quarter in the previous year.
