Infosys gets order from Fidelity Bank of Nigeria; stock up

Moneycontrol BureauShares of Infosys rose 1 percent intraday Wednesday after its subsidiary bagged order from Fidelity Bank of Nigeria.Infosys Finacle, part of EdgeVerve Systems, a product subsidiary of Infosys announced that Fidility Bank Plc, commercial bank in Africa, will migrates its core banking platform from Finacle version 7 to Finacle version 10."Finacle version 10 will enable bank to implement services such as SME banking, managemenat information systems reporting, application monitoring, and disaster recovery automation," as per BSE release. Michael Reh, Executive Vice President and CEO (designate), EdgeVerve said, "Finacle has a proven track record in Africa, having helped our clients to attain exceptional growth through industry-leading solutions and committed partnerships. We look forward to supporting Fidelity Bank in delivering a value-driven experience to its customers and achieving market-leading growth.”There is a positive sentiment for IT companies on weak rupee, as lower Indian currency shows positive impacts on their profit margins. Today, rupee has touched a fresh 2-year low, currently trading at 65.40 per dollar.At 09:58 hrs Infosys was quoting at Rs 1,164.95, up Rs 1.15, or 0.10 percent on the BSE.Posted by Rakesh Patil