Nucleus Software surges 14% on collaboration with Red Hat

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Shares of Nucleus Software Exports climbed 14 percent intraday Tuesday on collaboration with Red Hat, the world's leading provider of open source solutions.

"The collaboration means Nucleus Software can offer banks and finance companies significant speed and cost benefits through a wider choice of technology platforms on which to run its market leading software," said the company in its filing.

Nucleus Software’s products power the lending and transaction banking operations of more than 150 companies across 50 countries.

"Collaboration with Red Hat (JBoss Enterprise Application Platform) allows us to provide our customers across the globe with the potential for even greater business value through a faster, more cost effective technology platform," said Avnish Datt, head of global strategy at Nucleus Software.

At 15:14 hours IST, the scrip of Nucleus Software was quoting at Rs 202.80, up Rs 18.70, or 10.16 percent amid extremely high volumes on the Bombay Stock Exchange.

Posted by Sunil Shankar Matkar