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MUMBAI: Shares of Firstsource Solutions surged over 10% on Friday on studies that ace investor Rakesh Jhunjhunwala raised his stake in the company to 2.88% throughout the June quarter.
At 1205 pm, shares of Firstsource Solutions traded at ₹43.45, up 7.5% from its earlier shut, whereas the benchmark Sensex was down 0.6% at 36,498.13.
In the June quarter, Jhunjhunwala purchased 57 lakh fairness shares, or 0.82% stake, in FirstSource Solutions, following which his shareholding in the company stands at 2.88%.
Firstsource Solutions reported a 6.8% year-on-year fall in its consolidated web revenue to ₹91.58 crore in the March quarter whereas web gross sales rose 10.7% to ₹1,067.26 crore throughout the interval.
Since the start of 2020, the inventory has gained 6%, outperforming the Sensex which has declined 12%.
Firstsource Solutions is a supplier of a spread of enterprise course of administration companies throughout the shopper life cycle delivered by way of transaction processing. The agency’s segments embrace banking, monetary companies and insurance coverage and non-banking, monetary companies and insurance coverage. Its shoppers are unfold throughout US and Canada, UK, India, amongst others.
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