CAMS jumps on collaborating with Google Cloud
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Computer Age Management Services is currently trading at Rs. 3733.80, up by 74.85 points or 2.05% from its previous closing of Rs. 3658.95 on the BSE.
The scrip opened at Rs. 3725.00 and has touched a high and low of Rs. 3764.95 and Rs. 3707.50 respectively. So far 32069 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3835.30 on 25-Jun-2024 and a 52 week low of Rs. 2221.95 on 13-Jul-2023.
Last one week high and low of the scrip stood at Rs. 3764.95 and Rs. 3531.10 respectively. The current market cap of the company is Rs. 18429.10 crore.
The Institutions and Non-Institutions held 73.68% and 26.32%, stake in the company respectively.
Computer Age Management Services (CAMS) and Google Cloud have come together to revolutionize the financial services landscape by building a next-generation platform for the various business services provided by CAMS.
CAMS’ platform has been integral to the asset management industry of India for nearly 3 decades, supporting the industry’s growth for new product launches, market expansion, strengthened intermediation, regulatory compliance and differentiated investor services. The next generation platform, envisaged with Google Cloud, is a strategic step of the company to leverage the multiple benefits of cloud-based platforms (and emerging technologies) for the rapidly growing asset management industry and to serve the new generation, digital native investors.
The key building blocks of the platform will be design based on first principles, modularity and reusability with a rich services ecosystem, AI/ML powered digital products and data platform. AI and Automation will be integrated at every stage of the platform for automated, event-driven transaction processing with increased efficiency and accuracy.
CAMS and Google Cloud have engaged closely to bring in several unprecedented functionalities for the Indian market in the areas of digital sovereignty and enhanced security measures. Google boasts of a cutting-edge global work-force operating in its India delivery centres, and a section of this talent will be deployed on this program.
Computer Age Management Services offers integrated services for receipt, verification and processing of financial and non-financial transactions for the BFSI (banking, financial services and insurance) sector, largely the mutual fund industry.
