Narendra Modi's Washington test

Narendra Modi's Washington test

If Modi gets the world’s biggest power right, his pursuit of larger global goals...
Small banks or banks for ‘small’ people?

Small banks or banks for ‘small’ people?

Unless appropriate sub-limits are imposed on loans, there is a serious...

Polaris scrip gains more than 17% intraday on demerger announcement

Mar 18 2014, 16:18 IST
Comments 0
Polaris scrip closed 11.57% higher at Rs 152.80 on the BSE. Polaris scrip closed 11.57% higher at Rs 152.80 on the BSE.
SummaryPolaris scrip closed 11.57% higher at Rs 152.80 on the BSE.

Shares of Polaris Financial Technology Ltd gained more than 17% intraday after the company announced demerger of its product business on Tuesday. The scrip closed 11.57% higher at Rs 152.80 on the BSE.

As consideration for the demerger, every shareholder of Polaris Financial Technology will receive one share of Intellect, the new product company.

Commenting on the restructuring, Arun Jain, executive chairman, Polaris Financial Technology, said, "On one hand, the shareholder will get an additional share of Intellect, a new horizon business. On the other hand, expanded leadership capacity, greater customer centricity and sharper focus will drive higher value in each of the businesses.

"The company will be filing the scheme of demerger with the stock exchanges, SEBI and high court as per extant regulations," the company added in the release.

Also Check:

Live: BSE Sensex

Check prices: All Models

Buying used Car?

Comparison: Maruti Suzuki Celerio vs Alto

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...