Nucleus Software Exports, a provider of integrated software products for banks and financial institutions, announced collaboration with Red Hat.

The collaboration means Necleus Software can offer banks and finance companies significant speed and cost benefits through a wide choice of technology platforms on which to run its market leading software.

Nucleus Software's product powers the lending and transaction banking operations of more than 150 companies across 50 countries. In a highly competitive market banks and financial institutions face continuous pressure to improve their IT infrastructure and operations while driving down costs; this collaboration between Nucleus Software and Red Hat will provide scalable, proven and cost-effective solutions to help them achieve that.

Shares of the company gained Rs 20.6, or 11.19%, to trade at Rs 204.70. The total volume of shares traded was 149,318 at the BSE (12.50 p.m., Tuesday).