The Hindu Business Line : FII buying lifts i-flex Solutions

In fact, the stock touched yet another a `new' 52-week high on the BSE today with an intra-day high of Rs 887.95. In the past week, the stock recorded a new high as many as three times. On the BSE today, the stock closed at Rs 882.95, gaining 5.45 per cent over its previous close with trading volumes of 1.4 lakh shares. On the NSE, the stock closed at Rs 883.45. However, the counter continued to witness good volumes with 3.39 lakh shares being traded.

According to dealers, the stock has witnessed increased fund buying with a large foreign financial institution reportedly mopping up shares consistently in the past few days.

An IT analyst with domestic brokerage house, said, "there has been a considerable interest in the stock as markets are expecting extremely good results from the company. Also, the full year guidance is likely to be revised upwards." He added that the company, during a conference call in November, had announced that it had bagged around five new orders (for its flagship product - Flexcube) in this quarter. "Of these, two have been officially announced and at least three more are expected. These announcements are good news for i-flex, for being a product company, every order translates into a significant addition to its bottomline. Such news is expected to help sustain the momentum in the counter," the analyst said.

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