Infosys shares gained 1.7 percent intraday on March 13 after a Sri Lankan bank selected company's Finacle Trade Connect software to enable a blockchain-based domestic and cross-border trade finance network.
The stock was quoting at Rs 712.90, up Rs 6.00, or 0.85 percent on the BSE, at 11:35 hours IST. It rallied 20 percent in last one year.
Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys announced that Hatton National Bank (HNB) has selected Finacle Trade Connect to enable a blockchain-based domestic and cross-border trade finance network.
The Finacle Trade Connect solution will be used by HNB to pilot a trade network with other corresponding banking partners and its corporate clients, the company said.
The network is expected to help HNB and other participating entities substantially increase automation and transparency, while efficiently managing risks in trade and supply chain financing operations, it added. First Published on Mar 13, 2019 12:06 pm
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