Financial Technologies India tumbled 6.41% to Rs 740 at 10:34 IST on BSE, after the company announced an overseas acquisition
The stock hit a high of Rs 760 and a low of Rs 715 so far during the day. The stock has a 52-week high of Rs 2780 on 18 October 2007 and a 52-week low of Rs 650 on 10 October 2008.
The company’s current equity is Rs 9.18 crore. Face value per share is Rs 2.
The current price of Rs 740 discounts the company’s Q1 June 2008 annualized EPS of Rs 148.03, by a PE multiple of 5.
Financial Technologies India has entered into an agreement to acquire 90% stake in based ACE Group, a global credit support organization providing third party asset management, quality assurance and inspection services, for $22.5 million.
In April 2008, Financial Technologies acquired 90% stake in ICX Platform, a technology company situated at Johannesburg, South Africa for a consideration of $1.5 million.
Financial Technologies India’s net profit rose 583.58% to Rs 169.87 crore on 12.02% increase in net sales to Rs 44 crore in Q1 June 2008 over Q4 March 2008.
Financial Technologies India 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.
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