Polaris Consulting hits 16-year high, up by 20 per cent
DSIJ Intelligence / 26 Oct 2017
The share price of Polaris Consulting & Services witnessed a steep surge during Thursday’s trade to hit its 16-year high at Rs. 291.
The share price of Polaris Consulting & Services witnessed a steep surge during Thursday’s trade to hit its 16-year high at Rs. 291 per share as the company announced that it’s board will consider a proposal to voluntarily delist its equity shares. The stock surged by 20 per cent to hit its upper circuit of Rs. 291.
As on September 30, the promoters of the company held 74.42 per cent stake in the company. While individual shareholders held 11.64 per cent, foreign portfolio investors held 6.58 per cent stakes, mutual funds held 4.06 per cent stakes and the remaining 3.3 per cent stake was held by others.
The company's board of directors will meet on October 31, 2017 to decide on the proposal.
On a year to date basis, the stock outperformed the markets, surging by 93 per cent from Rs. 151 per share to Rs. 291 per share as compared to the S&P BSE Sensex that registered a hike of 24 per cent. At 1302 hours IST, the stock was trading at Rs. 291.05 per share, higher by 20 per cent on BSE on Thursday.
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