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Polaris Financial rises on plan to acquire 2-3 product companies

22 Nov 2012 Evaluate

Polaris Financial Technology is currently trading at Rs. 115.50, up by 0.55 points or 0.48% from its previous closing of Rs. 114.95 on the BSE.

The scrip opened at Rs. 116.25 and has touched a high and low of Rs. 116.30 and Rs. 114.10 respectively. So far 4687 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 175.40 on 16-Mar-2012 and a 52 week low of Rs. 102.80 on 23-May-2012.

Last one week high and low of the scrip stood at Rs. 120.60 and Rs. 114.05 respectively. The current market cap of the company is Rs. 1149.90 crore.

The promoters holding in the company stood at 29.15% while Institutions and Non-Institutions held 30.73% and 40.12% respectively.

In a bid to double its current revenue within next four years, Polaris Financial Technology is reportedly, planning to acquire 2-3 product companies. The company will invest $100 million for the said acquisitions. The company is looking at a new phase of growth, which it terms as Polaris 4.0, which would focus on doubling the current revenues in the next four years.

Recently, the company received an approval for the decision to enter into negotiations with interested parties in the US for the business of IdenTrust Inc., within the time frame of next 12 months.

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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Company Name CMP
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Wipro 204.35
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