CAMS surges on forming joint venture along with KFintech
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Computer Age Management Services is currently trading at Rs. 4749.90, up by 29.45 points or 0.62% from its previous closing of Rs. 4720.45 on the BSE.
The scrip opened at Rs. 4740.45 and has touched a high and low of Rs. 4890.00 and Rs. 4734.00 respectively. So far 28056 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 4966.65 on 17-Oct-2024 and a 52 week low of Rs. 2,472.50 on 13-Nov-2023.
Last one week high and low of the scrip stood at Rs. 4890.00 and Rs. 4569.15 respectively. The current market cap of the company is Rs. 23436.26 crore.
The Institutions and Non-Institutions held 75.17% and 24.83%, stake in the company respectively.
Computer Age Management Services (CAMS) and KFin Technologies (KFintech) have formed a Joint Venture Company for MFCentral. The company will jointly focus on all development aspects of MFCentral for technology, sales and marketing and will further augment the mutual fund investment process for investors and expand the intermediary service suite.
CAMS and KFintech, as part of SEBI’s initiative in April 2021, conceptualised a unified platform - MFCentral, for improving the ease of doing business for retail investors. MFCentral is a centralized platform that provides investors with a single access point to transact in mutual funds across multiple fund houses for investor convenience and to significantly augment the suite of services available to investors online.
In Phase 1, MFCentral launched Non-Financial Transactions in September 2021 and subsequently launched the mobile app and the full range of financial transactions for investors in 2023. Having witnessed a phenomenal response and success with over 2.5 million users, MFCentral is now being formalized into a stand-alone entity with equal ownership by both RTAs.
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.
