Financial Technologies hardens on overseas acquisition

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Idea, BSNL agree to interconnect RCom's GSM service
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Cancel 11 flights to & from Kolkata on 20 Aug
To launch Mumbai services on Wednesday
Deccan Aviation gets permission to fly to UK
RBI relief bonds can be used as collateral for bk loan
July Producer Price Index at 27-year high; up 1.2%
U.S. Housing Starts down 11% in July, lowest in 17 years
Board okays buy back at price not exceeding Rs.350/share
Cannot say if interest rates have peaked: NW
RBI steps, inflation to determine interest rates : NW
BSE Power up 0.26% , Bankex up 0.10%
BSE Teck down 1.38% , Consumer Durables down 1.17%
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Deccan Aviation granted traffic rights on India-UK sector
Revenues seen flowing in from Q4'09: Sources
Initial order size at $20-$25mn: Sources
Contracts to be signed within 3 months: Sources
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Dishman to get orders from Merck & Astrazeneca: Srcs
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To raise tractor prices this month : Escorts
Aluminium, Copper prices to remain weak in H2 FY'09

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

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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.