Stock market analysts are of the view that investors can buy Polaris Software Lab Ltd stock to achieve an intraday target between Rs 178-180.

According to them, investors can buy the stock above Rs 176.50 with a strict stop loss of Rs 174.

Shares of the company, on Wednesday (Dec 02), closed at Rs 173.40 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 180.75 and a low of Rs 26.30 on BSE.

Current EPS & P/E ratio of the stock stood at 17.60 & 10.37.

During the last month, US-based Citigroup has sold 1.71 percent equity stake in Polaris Software Lab via Orbitech, a company operated by Citigroup for Rs 279.89 million.

Citigroup sold 1.68 million shares for Rs 166.62 per share at NSE.

Chennai-based financial technology company declared an increase of 11% in its net profit for the three month period ended Sep. 30, 2009.

During the period under review, the company posted a profit of Rs 352 million as compared to Rs 318.40 million during the corresponding period of last year.

The company’s income surged by 4% to Rs 3,383.10 million.

In dollar terms, profit came up by 12% to $7.27 million from $6.52 million and income increased 5% to Rs 69.93 million from Rs 66.61 million sequentially.