Review

ORACLE FINANCIAL SERVICES SOFTWARE LTD. 

Ticker : 532466 
FV : Rs 5 
52-Week H/L : Rs 3299/1532.50

We had previously recommended Oracle Financial Services Software in vol. 36, no. 49, dated September 28, 2020, when the scrip was trading at Rs 2,960.90. It was recommended based on the good quarterly results. OFSS provides products & services to the financial services industry. On a consolidated quarterly front, its net sales grew by 4.87 per cent for the quarter ended June 2020 to Rs 1,337.26 crore from Rs 1,275.10 crore during the same period in the previous fiscal year. The company reported an operating profit of Rs 737.84 crore in Q1FY21, up by 13.36 per cent from Rs 650.86 crore reported in Q1FY20. Similarly, the net profit increased by 27.14 per cent from Rs 377.39 crore in Q1FY20 to Rs 479.79 crore in Q1FY21. Profitability has been improved in FY20 and the company is also on a fast track mode in digital transformation. Hence, we recommend Booking Profit on October 14, 2020, at Rs 3,210.50 with a gain of 8.43 per cent.