Computer Age Management Services shines as its arm inks pact with LIC
Computer Age Management Services is currently trading at Rs. 3499.90, up by 90.00 points or 2.64% from its previous closing of Rs. 3409.90 on the BSE.
The scrip opened at Rs. 3469.70 and has touched a high and low of Rs. 3514.00 and Rs. 3412.95 respectively. So far 6018 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 5367.45 on 12-Dec-2024 and a 52 week low of Rs. 2706.95 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 3514.00 and Rs. 3263.25 respectively. The current market cap of the company is Rs. 17162.54 crore.
The Institutions and Non-Institutions held 74.96% and 25.04% stake respectively in the company.
Computer Age Management Services’ wholly owned subsidiary -- CAMS Insurance Repository Services (CAMSREP) has signed an agreement with Life Insurance Corporation of India (LIC) for providing Insurance Repository Services. Consequent to this the Insurance policies issued by LIC, the country’s largest life insurer, can be issued in electronic (dematerialised format) through e-Insurance Accounts (eIA) that can be opened with CAMSREP. This is a significant milestone event in the industry given the fact that the country’s largest Life insurer is commencing their engagement for electronic issuance of policies.
CAMSREP one of the first repository to get IRDAI license, has been working towards digital transformation of insurance experience for the past decade and is servicing over one crore policies in the electronic format. CAMSRep has also invested in digital transformation opportunity and has built the first ever integrated industry benefit realisation platform - Bima Central for its eIA holders. Bima Central enables eIA holders to maintain their insurance portfolio as well as avail services from insurers like renewal payment, updation of personal details and raise policy servicing requests.
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.
