Polaris Software Short Term Buy Call

Technical Analyst Mitesh Thacker has maintained 'buy' rating on Polaris Software Lab Limited stock with a target of Rs 230.

Mr. Thukral said that the said target can be attained in the short term.

The stock of the company, on April 11, closed at Rs 208.30 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 215 and a low of Rs 143.95 on BSE.

Current EPS & P/E ratio stood at 19.24 and 10.95 respectively.

Country's central banking institution (RBI) has selected Chennai-based Polaris Software Lab to execute its core banking solutions, aimed to integrate its procedures crosswise all its sections.

The central bank owns 22 regional offices, the majority of them are located in the state capitals.

However, Polaris representative denied revealing info about the size of the deal and its value.

Sources near to the development said that the company pocketed the contract amid rivalry from the likes of IBM, TCS and Infosys

As per reports, the said project would be carried out in different stages, beginning with an apprehension of RBI's subsisting procedures, schemes, solutions as well as infrastructure.

While announcing Q3 outcomes during January 2011, the company's founder, chairman and CEO Arun Jain stated, "The Intellect suite has given us the opportunity to tap market potential in 60 countries worldwide, and 8 out of 10 top global banks use our product."

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