Polaris Financial gains on receiving nod to implement QCMS in Sweden's central bank

05 Jun 2014

Polaris Financial Technology is currently trading at Rs. 206.85, up by 0.80 points or 0.39 % from its previous closing of Rs. 206.05 on the BSE.

The scrip opened at Rs. 206.55 and has touched a high and low of Rs. 209.00 and Rs. 205.55 respectively. So far 37775 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 223.70 on 27-May-2014 and a 52 week low of Rs. 97.35 on 31-Jul-2013.

Last one week high and low of the scrip stood at Rs. 219.80 and Rs. 202.80 respectively. The current market cap of the company is Rs. 2056.60 crore.

The promoters holding in the company stood at 29.13 % while Institutions and Non-Institutions held 30.91 % and 39.97 % respectively.

Sweden's central bank, Sveriges Riksbank, the oldest central bank in the world, has chosen Polaris Financial Technology to implement its Intellect Quantum Collateral Management System (QCMS). The Collateral Management System is part of Polaris' Intellect Quantum Banking suite of Central Bank Solutions -- the world's first integrated money and securities solution for Central banks. The Collateral Management System will support Riksbank's services for Swedish payments system, open market operations, bank credit operations and agency central bank arrangements.

Polaris is a full-spectrum Financial Technology major, using technology as an enabler to drive unprecedented operational productivity in Retail, Corporate and Investment Banking. Polaris services over 200 banks across the world, including 9 of the top 10 banks, with a comprehensive suite of products, services and consulting offerings.

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