Intellect Design Arena shares rise 4% as Societe Generale deploys firm’s CTX platform

Shares of Intellect Design Arena Ltd gained over 4% today after the firm’s global banking arm said Societe Generale, a European financial services group, was deploying its Corporate Treasury Exchange (CTX) platform in France. 

The platform’s live implementation in the French banking sector will deliver enhanced cash pooling, real-time liquidity optimisation, risk reduction, and automated investment of excess cash.

Intellect Design Arena stock zoomed 4.45% to a fresh high of Rs 995.60 against the previous close of Rs 953.10 on BSE. Market cap of the firm rose to Rs 13,457 crore. A total of 0.60 lakh shares changed hands amounting to a turnover of Rs 5.90 crore on BSE. Intellect Design stock opened higher at Rs 957.50 on BSE. Later, the stock ended 3.26% higher at Rs 984.15 on BSE.

CTX provides a comprehensive suite of tools for corporate treasurers to automate real-time liquidity management across multiple accounts, in multiple currencies, held at multiple banks in multiple geographies. The platform fully automates the movement of cash balances to provide corporate clients with the optimal cash pooling experience; from visibility and forecasting to automated sweeping and investments.

In terms of technicals, the relative strength index (RSI) of Intellect Design stock stands at 57.3, signaling it's trading neither in the overbought nor in the oversold zone. Intellect Design stock has a one-year beta of 0.3, indicating very low volatility during the period. The stock is trading higher than the 10 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.

Intellect Design Arena has the world’s largest cloud-native, API-led microservices-based multi-product platform for global leaders in banking, insurance, and capital Markets. It offers a full spectrum of banking and insurance technology products through its three lines of businesses – Intellect Global Consumer Banking (iGCB), Intellect Global Transaction Banking (iGTB), and Intellect AI.

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