Intellect Design Arena is extremely volatile today. The stock which had closed yesterday at Rs.51.20, hit the 5% LC at Rs.48.65 within a few minutes of opening, which was also its new 52-week low. From there, it then surged upwards and hit a 5% UC at Rs.53.75 and currently remains at the same levels.
The stock has reacted positively to its news that iGTB, the world's first complete Global Transaction Banking Platform from the house of Intellect Design Arena Limited (Intellect), announced that Middle East's second-largest bank has expanded its relationship with iGTB to enhance the bank's liquidity management capabilities.
The Liquidity Management Solution from iGTB empowers corporate treasurers with pooling, sweeping, intercompany loans and virtual accounts, as well as policy-driven automated investment sweeps, cash flow forecasting and real-time funds checking. The system delivers sophisticated automation and comprehensive analysis for more informed decision within corporate treasury departments. iGTB is the market leader in corporate liquidity management and partners banks worldwide.