Rakesh Jhunjhunwala hikes stake in Polaris, scrip moves north on move

At 3.12 pm, the stock was trading 2.88 percent high at Rs 171.20 than last close. In the intra-day session so far, the share rallied between Rs 170.55 to Rs 177.40 when this report was being written.

Moment the news spread that smart investor Rakesh Jhunjhunwala raised his stake in Polaris Consulting & Services Ltd, the company shares rallied high as as much as 4.2 percent on the bourses.

At 3.12 pm, the stock was trading 2.88 percent high at Rs 171.20 than last close. In the intra-day session so far, the share rallied between Rs 170.55 to Rs 177.40 when this report was being written. The previous close was at Rs 166.40 while it opened at Rs 171.05.

According to The Economic Times , Jhunjhunwala raised his stake in the firm from 1.58 percent at the end of September 2014 quarter to 3.83 percent in December quarter.

Founded in 1993, Polaris Consulting & Services Limited offers technology solutions through its two specialized divisions – FT Services and FT Products.