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30-Nov2017

Infosys gains with arm launching blockchain based trade finance solution for banks

Infosys is currently trading at Rs. 985.50, up by 2.20 points or 0.22% from its previous closing of Rs. 983.30 on the BSE.

The scrip opened at Rs. 989.00 and has touched a high and low of Rs. 989.00 and Rs. 984.10 respectively. So far 2,957 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1045.00 on 13-Jan-2017 and a 52 week low of Rs. 861.50 on 22-Aug-2017.

Last one week high and low of the scrip stood at Rs. 1019.20 and Rs. 981.50 respectively. The current market cap of the company is Rs. 2,26,127.00 crore.

The promoters holding in the company stood at 12.75%, while Institutions and Non-Institutions held 56.22% and 14.34% respectively.

Infosys' product subsidiary - Infosys Finacle, part of EdgeVerve Systems has launched the Finacle Trade Connect, a blockchain based trade finance solution for banks. The solution will help digitize the trade finance business process, including validation of ownership, certifying documents and making payments, while working on a distributed, trusted and shared network. The solution is available for a range of functions, including Bill Collection, Letters of Credit, Open Account for Trade, C2C Transactions for Trade, B2C transactions for Trade, PO Financing and Invoice financing.

Infosys Finacle also launched a pilot trade finance network for banks to trial the Finacle Trade Connect solution. 11 banks have partnered with Infosys Finacle to be on the network.

Infosys is a global leader in consulting, technology and outsourcing solutions. The company enables clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition.


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