Polaris Financial drops after recent upmove

Polaris Financial Technology lost 3.16% to Rs 138 at 14:05 IST on BSE, with the stock sliding on profit booking after recent upmove.

Meanwhile, the S&P BSE Sensex was up 26.04 points or 0.13% at 20,633.58

On BSE, 86,209 shares were traded in the counter as against average daily volume of 1.15 lakh shares in the past one quarter.

The stock hit a high of Rs 143.60 and a low of Rs 136.60 so far during the day. The stock had hit a 52-week high of Rs 144.70 on 22 January 2013. The stock had hit a 52-week low of Rs 96.10 on 14 May 2013.

The stock had outperformed the market over the past one month till 14 October 2013, rising 22.48% compared with the Sensex's 4.43% rise. The scrip had also outperformed the market in past one quarter, gaining 24.02% as against Sensex's 3.25% rise.

The small-cap company has equity capital of Rs 49.77 crore. Face value per share is Rs 5.

Shares of Polaris Financial Technology have gained 12.25% to settle at Rs 142.50 on 14 October 2013, from a recent low of Rs 126.95 on 9 October 2013.

On a consolidated basis, Polaris Financial Technology's net profit fell 1.46% to Rs 43.20 crore on 5.24% rise in net sales to Rs 583.82 crore in Q1 June 2013 over Q4 March 2013.

Polaris Financial Technology is a global leader in financial technology for banking, insurance and other financial services.

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