i-flex Solutions flexes its muscles

i-flex Solutions gained 1.29% to Rs 1001 at 12:16 IST on BSE after the company said Israel Discount Bank, one of the leading financial groups in Israel, has selected Flexcube, i-flex’s core banking platform for its UK operations.

The stock hit a high of Rs 1014 and a low of Rs 980 so far during the day. The stock had a 52-week high of Rs 2630 on 2 July 2007 and a 52-week low of Rs 892 on 24 March 2008.

The company’s current equity is Rs 41.87 crore. Face value per share is Rs 5.

The current price of Rs 1001 discounts its Q3 December 2007 EPS of Rs 52.92 by a PE multiple of 18.92.

In March 2008, i-flex said Lien Viet Bank, Vietnam selected Flexcube, its core banking solution for its banking operations.

On 22 February 2008, Vietnam's FPT bank selected i-flex’s universal banking solution Flexcube for retail and corporate banking operations in Vietnam.

On 19 February 2008, i-flex said OTP Bank, Hungary's largest retail bank, selected its banking solution Flexcube for its retail, lending and corporate banking businesses.

i-flex solutions’ net profit rose 44.66% to Rs 110.78 on 5% growth in net sales to Rs 456.74 crore in Q3 December 2007 over Q2 September 2007.

The company provides information technology solutions to the financial service industry worldwide.