Mehta told CNBC-TV18, "Polaris biggest client Citibank was in the eye of the storm and the kind of results which came quite impressive, they have made some progress on the Intellect Suite side. So, I think that the stock may have some way to go further up, balance sheet is in sound shape and some of the qualitative aspects also are quite positive for the company."
He further added, "In terms of valuation, it is fairly valued at this point of time and we still don't see much of indication of growth over the next two-three quarters and that would be more of a function of the US markets. But these are safe companies at this point of time and if you have a view that the rupee will only appreciate gradually then these stocks like Polaris could be a market performer."
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