Polaris Financial Technology is currently trading at Rs. 109.05, up by 0.85 points or 0.79% from its previous closing of Rs. 108.20 on the BSE.
The scrip opened at Rs. 108.50 and has touched a high and low of Rs. 114.35 and Rs. 108.50 respectively. So far 73,000 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 147.30 on 20-Sep-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. 116.85 and Rs. 107.35 respectively. The current market cap of the company is Rs. 1085 crore.
The promoters holding in the company stood at 29.14% while Institutions and Non-Institutions held 29.66% and 41.21% respectively.
Polaris Financial Technology, a leader in products, solutions and services that enable unprecedented operational productivity for the global Financial Services industry has launched its new organization design that signals empowerment, agility and the potential to unlock enterprise value, while transitioning to an industry imperative of outcome-based solutions.
In January 2013, based on leadership deliberations and recommendations from Boston Consulting Group (BCG), the Board of Directors of the company authorized the management team to explore options that would provide an impetus for the next stage of its growth and maximize shareholder value. A Task Force was set up with senior leaders in the company, led by Jaideep Billa and comprising Natarajan Narayanasamy (Nat), Anil Verma, and Rajesh Saxena. The Board prescribed a 90 day mandate for a presentation of recommendations.
Further, to the recent Task Force review with the Polaris Board, the company is restructuring its businesses into separate Services and Products divisions. Both divisions will have independent management teams and strategies aligned to their respective customers' needs. The company is appointing five CEOs for each distinct line of business across Services and Products for greater customer focus and agility. Polaris veteran Govind Singhal will guide the enterprise-wide change process from the Office of the Chairman.
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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