Intellect and Polaris amongst top gainers

Intellect Design Arena was earlier a part of Polaris Consulting and in 2016, it was hived off as a separate product company, mainly on the BFSI space. The stock got listed on the bourses in July 2016. The company is a specialist in FinTech domain of digital technologies for banking and insurance companies. 

Polaris is also up amongst the top gainers today and so in Intellect, which is in fact the top gainer on the BSE, up currently over 17% at Rs.170 levels.

In Polaris, the Offer For Sale begins today for retail investors at a price of Rs.130/share which is much below the current market price of Rs.153. The promoter of the company is offloading 1.86% stake, mainly to meet SEBI’s promoter shareholding limit of 75% while here as at 30th Sept 2016, promoters held 78.61%.

In Intellect, the mood is upbeat probably because it is looked upon as a beneficiary of the current cashless or digitization move in India. With the Govt announcing various moves yesterday to make even rural India digital, the perception is that Intellect will be a beneficiary as it is a well known name for providing Financial Technology for Banking, Insurance and other Financial Services.