Polaris Consulting & Services drops after turning ex-dividend

Shares of Polaris Consulting & Services have dropped around 6% to Rs 172 on the Bombay Stock Exchange (BSE) after the stock turned ex-dividend today for final dividend of Rs 10 per share for the year ended 31 March 2015.

Before turning ex-dividend, the stock offered a dividend yield of 5.47% based on the closing price of Rs 182.80 yesterday, 9 June 2015.

Polaris Consulting & Services (Polaris) is one of the leading digital transformation companies in the world with particular emphasis on the financial services industry. Over the years it has built and run Universal Digital Channel (UDC) platforms for some of the biggest banks around the globe.

The stock opened at Rs 174 and touched a low of Rs 168 on the BSE. At 13:05PM, a combined of around 500,000 shares changed hands on the counter on NSE and BSE.