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Polaris Financial Technology hits 52-week high on plans to sell its services business unit

By Religare
Polaris Financial Technology hits 52-week high
Shares of financial technology firm Polaris Financial Technology rallied nearly 5 per cent in early trade on Bombay Stock Exchange (BSE) on reports that company is gearing up to sell its services business unit which is valued at about USD 400 million.

The prominent contender for this bid includes L&T Infotech, Tech Mahindra and NEC. Riding high on media reports, shares of the company gained as much as 4.89 per cent and touched 52-week high to trade at Rs 148.00 a piece on the BSE.

In a similar fashion, shares of the company advanced 3.65 per cent to Rs 146.40 a piece on National Stock Exchange. Meanwhile, the broader benchmark Sensex was quoting at 20,912.34, up 18.45 points or 0.09 per cent at 10:05 hours.

Dion Global Solutions Ltd.

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