|Stock Name : Oracle Financial Services Software Limited/Tips Open||Buy : 3,295||Posted Date : Jan 25, 2021|
|Stopless/Horizon : 3130||Target : 3789|
Overview: Oracle Financial Services Software is principally engaged in the business of providing information technology solutions and business processing services to the financial services industry worldwide. The company is a Large Cap company with a market capitalization of Rs 28823.01 Crore.
About the company: Oracle Financial Services Software Limited (OFSSL) is a world leader in providing IT solutions to the financial services industry and is a majority-owned subsidiary of Oracle Corporation. Oracle Corporation is the world’s most complete, open, and integrated business software and hardware systems company.
OFSSL provides transaction processing and accounting software for banks, investment managers, and mutual funds. Oracle Financial also provides internet delivery of financial services as well as business intelligence and analytical applications. The company promotes its BPO business via its subsidiary Equinox Corporation which is based in Irvine, California.
History: In 1984, Citicorp Overseas Software Limited(COSL) was created by Citibank to produce low-cost software for its various banking operations. Citicorp Information Technologies India Ltd.(CITIL), was formed out of this company to service non-Citi clients. The company later went on to be known as I-FLEX in the world market. After some period, I-FLEX was renamed Oracle Financial Services Software.
Management: Mr. Chaitanya Kamat is the Managing Director & CEO and Mr. S Venkatachalam is the Chairman.
• Promoter: 73.3%
• MF: 5%
• FII: 11%
• Other Institutions: 3.1%
• Public: 7.7%
Dividend: Oracle Financial Services Software declared an equity dividend of 3600.00% amounting to Rs 180 per share for the year ending March 2020.
Sales Report: For the latest quarter ended on September 302020, Oracle Financial Services Software posted a Consolidated sale of Rs 1197.39 Crore, which was down -10.46 % from last quarter Sales of Rs 1337.26 Crore and up 3.00 % from last year same quarter Sales of Rs 1162.48 Crore.
Net profit of the company rose 9.26% to Rs 392.07 crore against Rs 358.85 crore during the last year same quarter 2019.
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