Infosys Bags Order From National Bank Of Bahrain; Stock Rises 1%

Infosys bagged an order from the National Bank of Bahrain (NBB) for the company's financial platform to digitally transform its transaction banking business. National Bank of Bahrain and Infosys Finacle, a wholly-owned subsidiary of Infosys, announced the bank's decision to adopt the Finacle Cash Management Suite to digitally transform its transaction banking business, Infosys said in a regulatory filing to the stock exchanges. The share prices strengthened by more than 1 per cent on the BSE in early trading on the back of the news development.

The Infosys stock shares touched an intra-day high of Rs 970, up 1.3 per cent on the BSE, after starting the day at Rs 959.70. However, at 9:55 am, the shares had slipped into the red to trade at Rs 949.30, down 0.8 per cent, on the BSE.

NBB will implement the Finacle Liquidity Management Platform and upgrade its existing Finacle Corporate Online Banking platform to a Digital Engagement Suite.

Venkatramana Gosavi, Senior Vice President and Global Head of Sales, Infosys Finacle, said, “This deployment of our industry leading digital cash management solution suite on a non-Finacle
core banking platform is a perfect example of the adaptability of Finacle solutions and its ability to power
digital transformation for banks in a progressive and seamless manner.” 

The BSE Sensex was trading at 37225.85, higher b 286 points or 0.7 per cent and the NSE Nifty was at 10972.45, up 82.70 points or 0.7 per cent at the time.