Polaris Financial Technology, a global financial technology company, jumped on Tuesday after the demerger of its products (intellect) business into an independent entity. 

The company will be filing the scheme of demerger with the stock exchanges, SEBI and High Court as per extant regulations.

Shares of the company settled at Rs 152.80, up Rs 15.85, or 11.57% at the Bombay Stock Exchange (BSE) on Tuesday.

The scrip has touched an intra-day high of Rs 160.60 and low of Rs 136. The total volume of shares traded at the BSE is 1,106,985.

In the earlier session, the shares rose 0.11%, or Rs 0.14, at Rs 136.95. Currently, the stock is trading down 9.05% from its 52-week high of Rs 168 and above 59% over the 52-week low of Rs 96.10.