Shares of Nucleus Software Exports are soaring. Know why

Nucleus Software Exports Ltd., a mid-sized banking software services provider, surged in morning trade on Thursday after the company announced a tie up with global software giant Microsoft.

Nucleus' banking software Finn One will now be available on Microsoft's Azure Cloud software, the company said in a statement to the exchanges. The move will allow Nucleus' customers to cut costs and response time, the statement added.

As a consequence, Nucleus Software gained 34.20 rupees, or 13.4 percent, to 289.70 rupees on the National Stock Exchange where 6 lakh shares were traded compared with a 5-day average of 1.08 lakh shares.

Nucleus has seen its market capitalisation surge 65 percent to 820 crore rupees in one year as investors preferred small cap software companies over their larger peers.

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