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Shares of Nucleus Software Ltd. surged in today's trade

Shailendra BhatnagarSep 2, 2015, 11:45 IST

Nucleus Software Ltd., a mid-sized provider of financial software, surged in Wednesday's trade after the company said its flagship software will be deployed at a non-banking financial services company.

Nucleus' main product FinnOne Neo will be deployed at Magma Fincorp Ltd's offices for the processes of loan origination and management, Nucleus said in a statement to the exchanges.

As a consequence, Nucleus rose 11.40 rupees, or 4.9 percent, to 244 rupees on the National Stock Exchange, where 1.39 lakh shares were traded compared with the 5-day average of 1.07 lakh shares.

Image credit: Indiatimes

Nucleus has seen its market capitalisation remain flat at 780 crore rupees in the past one year. The stock trades at 1.8 times book value of 137 rupees.