Meanwhile, the S&P BSE Sensex was up 48.80 points or 0.25% at 19,478.03.
On BSE, 6.82 lakh shares were traded in the counter as against average daily volume of 1.28 lakh shares in the past one quarter.
The stock hit a high of Rs 134 and a low of Rs 122.35 so far during the day. The stock had hit a 52-week high of Rs 147.30 on 20 September 2012. 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 7 June 2013, surging 23.38% compared with the Sensex's 2.3% fall. The scrip had also outperformed the market in past one quarter, jumping 9.24% as against Sensex's 0.08% gain.
The small-cap company has equity capital of Rs 49.75 crore. Face value per share is Rs 5.
Shares of Polaris Financial Technology had rallied 8.46% to settle at Rs 130.10 on Friday, 7 June 2013, on media report that Tech Mahindra and L&T Infotech are contemplating to acquire the company's IT services unit. Earlier, the stock had risen 5.77% in three trading sessions to settle at Rs 119.95 on Thursday, 6 June 2013, from a recent low of Rs 113.40 on 3 June 2013.
According to the report, while L&T Infotech has placed a $330-million offer to acquire Polaris Financial Technology's IT services unit, Tech Mahindra's bid is pegged at more than $350 million. The report added that IT bigwigs Wipro and Infosys too are the contenders for Polaris's IT services unit.
Polaris Software had announced in May 2013 that the company is restructuring its businesses into separate services and products divisions. Both divisions will have independent management teams and strategies aligned to their respective customers' needs, the company had said at that time. The company had also announced appointing five CEOs for each distinct line of business across services and products for greater customer focus and agility.
On a consolidated basis, Polaris Financial Technology's net profit rose 7.79% to Rs 43.84 crore on 3.16% decline in net sales to Rs 554.73 crore in Q4 March 2013 over Q3 December 2012.
Polaris Financial Technology is a global leader in financial technology for banking, insurance and other financial services.
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