Firstsource Solutions shares rise 4% as firm discloses details of overseas operations 

Shares of BPO sector firm Firstsource Solutions Ltd gained over 4% on Thursday as the firm said it has set up operations in Australia and New Zealand to be headquartered in Victoria, creating over 400 new local jobs over the next five years. The stock rose 4.4% to Rs 314.90 against the previous close of Rs 301.60 on BSE. Market cap of the firm climbed to Rs 21,418 crore.   

In a year, the stock has delivered returns of 84.45% and risen 66% this year. 

Total 2.99 lakh shares changed hands amounting to a turnover of Rs 9.24 crore on BSE. Firstsource Solutions stock hit a 52-week low of Rs 148.40 on October 26, 2023 and a 52 week high of Rs 343.85 on August 20, 2024.   

In terms of technicals, the relative strength index (RSI) of Firstsource Solutions stands at 48, signaling it's trading neither in the overbought nor in the oversold territory. Firstsource Solutions stock has a one-year beta of 1.1, indicating high volatility during the period. Firstsource Solutions shares are trading lower than the 5 day, 10 day, 20 day, 30 day and higher than the 50 day, 100 day, 150 day and 200 day moving averages.  

Sanjiv Goenka, Chairman of RP-Sanjiv Goenka Group and Firstsource said, "Expanding our operations into Australia marks
a significant milestone in Firstsource’s global growth strategy. We see this as an important opportunity to leverage not just
the immense opportunities the country presents, but also the outstanding support provided by the government in ease of
doing business and building a stronger local economy. We are delighted by the support and partnership provided by the
Victorian Government toward setting up our operations and look forward to contributing meaningfully to the growth and
success of both our business and the local economy."

Firstsource Solutions is a leading provider of transformational solutions and services spanning the customer lifecycle across Healthcare, Banking and Financial Services, Communications, Media and Technology, and other industries.