Polaris rises on inking definitive pact with US based Numerix

12 Feb 2013

Polaris Financial Technology is currently trading at Rs. 120.70, up by 0.60 points or 0.50% from its previous closing of Rs. 120.10 on the BSE.

The scrip opened at Rs. 118.60 and has touched a high and low of Rs. 122.50 and Rs. 118.60 respectively. So far 25301 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. 122.50 and Rs. 113.00 respectively. The current market cap of the company is Rs. 1205.75 crore.

The promoters holding in the company stood at 29.15% while Institutions and Non-Institutions held 28.39% and 42.46% respectively. Polaris Financial Technology has signed a definitive agreement with US based Numerix, a leading provider of cross-asset analytics for derivatives valuations and risk management. Leveraging Numerix’s newly introduced analytics calculation engine, CrossAsset Server and CrossAsset Integration Layer for the integration, this partnership will provide clients with Numerix risk analytics for improved risk monitoring, increased transparency and decision making.

Polaris’ intellect risk and treasury has more than 40 customers across 80 countries, which will now be able to comply with Basel regulatory requirements, such as consistent pricing, stress testing and accurate reporting of Credit Valuation Adjustment for robust Counterparty Credit Risk management, by leveraging Numerix’s comprehensive model library and risk analytics embedded as part of the solution. In addition, Polaris will support banks to integrate Numerix models into their end-to-end pricing and risk management solutions.

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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