Volumes jump at Shriram City Union Finance counter

P I Industries, Polaris Financial Technology, Hathway Cable & Datacom and Engineers India are among the other stocks to see a surge in volumes on BSE today, 26 February 2014.

Shriram City Union Finance clocked volume of 1.40 lakh shares by 13:43 IST on BSE, a 1972.1-times surge over two-week average daily volume of 71 shares. The stock lost 0.48% at Rs 966.70.

P I Industries notched up volume of 3.82 lakh shares, a 23.53-fold surge over two-week average daily volume of 16,000 shares. The stock lost 1.24% at Rs 250.

Polaris Financial Technology saw volume of 33.37 lakh shares, a 15.88-fold surge over two-week average daily volume of 2.10 lakh shares. The stock spurted 13.36% at Rs 163.75.

Polaris Financial Technology during trading hours in a clarification with reference to the news item "US based Fiserv in talks to acquire stake in Polaris" said, "During our 3rd Quarter results in January 2013, the Board of Directors authorised the Management Team to explore options that would provide an impetus to the company for the next stage of its growth. The context was around leveraging untapped potential in our growth engines i.e. Services, Products and the canvas of opportunities that are available to us as a leading Specialist in the global Financial Technology arena. In line with the stringent Governance principles the company follows, stakeholders have been updated on progress. As announced, the major legs of the restructuring process have been completed last quarter in Q3 2014. With its singular focus on Banking & Financial Technology for over 2 decades, Polaris has built very robust and comprehensive assets to spearhead transformational projects for the BFSI vertical. The restructuring exercise has been misconstrued by a certain section of stakeholders with repeated mention of possible sale. Despite the company clarifications, these rumours continue to surface, impacting customer relationships, distracting Management and employees. Polaris is not for sale. The company is poised to leverage its rich assets in banking and technology to accelerate growth of its two distinct businesses - Products (Intellect) business and IT Services business".

Hathway Cable & Datacom clocked volume of 5.68 lakh shares, a 8.95-fold surge over two-week average daily volume of 63,000 shares. The stock rose 0.54% at Rs 244.25.

Engineers India saw volume of 4.40 lakh shares, a 3.78-fold rise over two-week average daily volume of 1.16 lakh shares. The stock rose 2.52% to Rs 150.55.

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