Shares of Oracle Financial Services Software Ltd. (OFSS) gained nearly 3% on Wednesday, September 11, extending their rally after surging close to 9% in the previous session. The stock was last seen trading at ₹9,540, up ₹275.50 or 2.97% on the NSE.
Global spillover effect from Oracle Corp.
The momentum in OFSS comes after its US-based parent company Oracle Corp. delivered record-breaking earnings and issued a highly bullish outlook for its cloud and AI business. Oracle’s stock closed up a staggering 36% in US markets on Tuesday, marking one of the biggest single-day jumps for a major tech company.
Oracle reported a 4x jump in bookings to $455 billion, with new multi-billion-dollar contracts signed with OpenAI, TikTok, and Nvidia. The company guided that its cloud infrastructure revenue will grow 77% in FY2025 to $18 billion, and could expand nearly 8x to $144 billion by FY2030, well above Wall Street expectations.
Larry Ellison becomes world’s richest man
The stock surge also catapulted Oracle co-founder Larry Ellison to the top of the global billionaire rankings. According to Bloomberg, Ellison’s net worth soared by $101 billion in a single day — the largest one-day wealth increase ever recorded — taking his fortune to $393 billion. He has officially surpassed Tesla CEO Elon Musk, whose wealth declined following a sharp drop in Tesla’s stock.
Impact on OFSS
The extraordinary performance of Oracle Corp. has boosted sentiment for its Indian subsidiary, OFSS, which provides financial services software solutions. Investors are betting that OFSS will benefit from the parent’s accelerated global cloud expansion and AI-driven digital infrastructure focus.
