Polaris rises 4.4% as Tech Mahindra may buy IT services biz
The report says Tech Mahindra is now the sole contender in the race for Polaris' IT services business after another serious suitor, L&T Infotech has opted out of the race.
July 15, 2013 / 15:27 IST
Polaris Financial Technology shares gained 4.4 percent intraday Monday on media reports that Tech Mahindra may buy the Chennai-based company's IT services business.
The report says Tech Mahindra is now the sole contender in the race for Polaris' IT services business after another serious suitor, L&T Infotech has opted out of the race. The company is in advanced stages of discussion with Polaris and started the due diligence process a while back, the report adds.At 15:05 hours IST, the stock was quoting at Rs 118.10, up 2.79 percent amid high volumes on the Bombay Stock Exchange. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
