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Why Intellect Design Arena share rose over 6% today

The midcap stock touched an intraday high of Rs 461 rising 6.26% on BSE. Later, the stock closed 3.33% or Rs 14.45 higher at Rs 448.30 on BSE

twitter-logoBusinessToday.In | February 22, 2021 | Updated 18:28 IST
Intellect Design Arena share rises 6% as Bank Rakyat Indonesia picks firm for 'digital transformation'
Intellect Design share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Intellect Design Arena share price rose over 6% percent intraday today after Bank Rakyat Indonesia selected Intellect Wealth for digital transformation. The midcap stock touched an intraday high of Rs 461 rising 6.26% on BSE. Intellect Design share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

In a year, the share has gained 215.04% and risen 42.43% since the beginning of this year. Later, the stock closed 3.33% or Rs 14.45 higher at Rs 448.30 on BSE. Market cap of the firm stood at Rs 5,957 crore. The company's wealth platform, WealthQube, will underpin the digital transformation of wealth management at PT Bank Rakyat Indonesia (BRI), the company said.

"With implementations in Singapore, Thailand, Malaysia, Philippines, India and Saudi Arabia, we have a very deep understanding of this market. The superiority of our offering is established by the fact that we won this deal against a very competitive line up of Swiss providers," said Jaideep Billa, President, Wealth Management, Intellect Design Arena.

Meanwhile, benchmark indices ended majorly lower on Monday, amid mixed global equities. Extending fall for the fifth consecutive session, Sensex ended 1,145 points lower at 49,744 and Nifty 50 lost 306 points to 14,675.

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