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Polaris Consulting declines on profit booking

Capital Market 

Polaris Consulting & Services fell 3.2% to Rs 217.80 at 10:18 on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P Sensex was up 7.84 points, or 0.03% at 29,326.94. The S&P Small-cap index was up 34.27 points, 0.23% at 14,878.38.

On the BSE, 37,000 shares were traded on the counter so far as against the average daily volumes of 74,881 shares in the past one quarter. The stock had hit a high of Rs 226.05 and a low of Rs 216.35 so far during the day.

The stock had hit a 52-week high of Rs 231.70 on 18 April 2017 and a 52-week low of Rs 141.10 on 9 November 2016. The stock had outperformed the market over the past one month till 18 April 2017, advancing 26.4% compared with the Sensex's 1.11% decline. The scrip had also outperformed the market over the past one quarter advancing 37.53% as against the Sensex's 7.56% rise.

The small-cap company has equity capital of Rs 51.06 crore. Face value per share is Rs 5.

Polaris Consulting & Services had rallied 26.55% in the preceding four trading sessions to settle at Rs 225 yesterday, 18 April 2017, from its closing of Rs 177.80 on 11 April 2017.

Polaris Consulting & Services' consolidated net profit rose 15.82% to Rs 47.65 crore on 1.72% increase in net sales to Rs 515.45 crore in Q3 December 2016 over Q2 September 2016.

Polaris Consulting & Services is a leader in solutions and services that enable operational productivity for the global financial services industry.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 19 2017. 10:19 IST