Firstsource Solutions jumps after Rakesh Jhunjhunwala picks up stake

Meanwhile, the S&P BSE Sensex was up 173.98 points, or 0.90%, to 19,584.82.

On BSE, 12.81 lakh shares were traded in the counter as against an average daily volume of 1.54 lakh shares in the past one quarter.

The stock hit a high of Rs 12.90 and a low of Rs 12.03 so far during the day. The stock had hit a 52-week high of Rs 14.40 on 25 October 2012. The stock had hit a 52-week low of Rs 8.05 on 27 July 2012.

The stock had outperformed the market over the past one month till 4 July 2013, rising 8.50% compared with the Sensex's 0.69% fall. The scrip had also outperformed the market in past one quarter, rising 6.51% as against Sensex's 4.87% rise.

The small-cap company has an equity capital of Rs 658.17 crore. Face value per share is Rs 10.

Rakesh Jhunjhunwala on Thursday, 4 July 2013, picked up 3.79% stake in the BPO service provider for an estimated Rs 25 crore from private sector lender ICICI Bank and others.

A total of 2.50 crore shares of Firstsource Solutions were acquired by Jhunjhunwala, as per the bulk deal information with stock exchanges.

The shares were purchased at an average price of Rs 10 each, amounting to Rs 25 crore. Two shareholders of Firstsource Solutions, ICICI Bank and Aranda Investments Mauritius, offloaded a total of 3.31 crore shares for Rs 33.18 crore.

On a consolidated basis, Firstsource Solutions' net profit jumped 74.2% to Rs 40.21 crore on 14.0% increase in net sales to Rs 713.68 crore in Q4 March 2013 over Q4 March 2012.

Firstsource Solutions provides business process outsourcing (BPO) services, offering a wide range of services across banking and financial services, telecommunications & media and healthcare industry.

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