Polaris surges on launching NACH-ready Payments Services Hub for India

06 Feb 2014

Polaris is currently trading at Rs. 131.20, up by 1.85 points or 1.43% from its previous closing of Rs. 129.35 on the BSE.

The scrip opened at Rs. 129.95 and has touched a high and low of Rs. 132.60 and Rs. 129.95 respectively. So far 22,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 155.00 on 07-Nov-2013 and a 52 week low of Rs. 96.10 on 14-May-2013.

Last one week high and low of the scrip stood at Rs. 141.00 and Rs. 127.45 respectively. The current market cap of the company is Rs. 1,306 crore.

The promoters holding in the company stood at 29.13% while Institutions and Non-Institutions held 31.18% and 39.69% respectively.

Polaris Financial Technology's iGTB division, provider of the world's first complete Global Transaction Banking platform, has launched its NACH-ready India Payments solution. The solution is compliant with major payments systems in the country including National Automated Clearing House (NACH), Next-Generation Real Time Gross Settlement (NG-RTGS) and National Electronic Funds Transfer System (NEFT).

NACH-ready India Payments solution contains NACH Mandate Manager, Transaction Processor for NACH, NG-RTGS, NEFT and APBS along with other standard features such as cross-border transactions and host-to-host connectivity. It is a web-based solution to facilitate inter-bank, high volume electronic transactions that are repetitive and periodic in nature. It facilitates centralized mandate management, direct debits and bulk payments processing.

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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