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Our Bureau

Mumbai, Aug. 26 The share price of ICICI-promoted back office firm Firstsource Solutions went up by 22.69 per cent on the bourses on Tuesday.

The Firstsource scrip hit an intra day high of Rs 49.35, before settling at Rs 48.4.

The BPO company’s share price has soared up by about 44 per cent in the last one month.

According to market men, the shares have been moving up on speculation that ICICI’s stake in the company has been put on the block.

ICICI Bank and other ICICI group entities together hold about 26.78 per cent stake in the city-based company, which is the third largest BPO firm in the country.

A leading news channel also reported on Tuesday that the bank is selling its stake in the BPO company in a deal that could fetch it $150 million. However, this could not be independently verified.

However, some reports quoting analysts said that the company is close to securing a major BPO contract, which has impacted its share price.

A spokesperson for Firstsource neither confirmed nor denied the development.

When contacted, an ICICI spokesperson said: “ICICI Bank holds investments in a variety of companies, including Firstsource. However, we do not comment on market speculation.”

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