Irish Bank sues Oracle Financial; stock down
Shares of Oracle Financial Services were under pressure after Ireland's second largest bank, Allied Irish Banks.
By ET Bureau |
MUMBAI: Shares of Oracle Financial Services were under pressure after Ireland's second largest bank, Allied Irish Banks. The bank is claiming a compensation of 84 million ( 529 crore), a sum that is close to the Indian company's FY10 net profit of Rs 660 crore.
Oracle Financial Services, on the other hand, has said it intends to file a counter-claim against the bank for breach of contract and outstanding fees.
The stock was at Rs 2082.95, down 4.19 per cent on the BSE. It touched a high of Rs 2139.80 and low of Rs 2066 in trade so far.
Oracle Financial Services, on the other hand, has said it intends to file a counter-claim against the bank for breach of contract and outstanding fees.
The stock was at Rs 2082.95, down 4.19 per cent on the BSE. It touched a high of Rs 2139.80 and low of Rs 2066 in trade so far.
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