8K Miles, NIIT Technologies, Intellect Design hit new high

These stocks have rallied between 27%-50% thus far in October compared to 2.8% rise in Sensex.

Three companies - 8K Miles Software Services, NIIT Technologies and Intellect Design Arena - which engaged in information technology (IT) software and related business have touch their respective record highs on the BSE in otherwise weak market.

All these stocks have rallied between 27%-50% thus far in October after reporting a strong set of numbers for the quarter ended September 2015 (Q2FY16). The S&P BSE Sensex gain 2.8% during the current month.

The aggregate net profit of these three companies jumped more than two-fold to Rs 68.99 crore in Q2FY16 against profit Rs 26.79 crore in the same quarter last year.

8K Miles Software Services has rallied 9% to Rs 1,892 on the BSE. The stock hit a record high of Rs 1,920 in intra-day today and surged 34% in the month of October.

The company has posted a consolidated net profit at Rs 8.74 crore in Q2FY16 more than doubled amid strong operational income. The company had profit of Rs 4.15 crore in a year ago quarter.

While announcing Q2 results, Mr. Suresh Venkatachari, Chairman and Managing Director, 8K Miles Software Services said, “We see strong growth in our solutions for Healthcare and Life Science industries and expect to attain leadership position over next 24 months.”

NIIT Technologies was up 8% at Rs 598, after touching intra-day high of Rs 611 on the BSE.  Post Q2 results, the stock surged 30% from Rs 459 on October 15.

The company had reported a strong 70% year-on-year jump in net profit at Rs 68.2 crore in Q2FY16 on the back of strong growth in all international geographies.

On Monday, October 26, the company announced a long term strategic agreement with Dubai based airline flydubai.

Intellect Design Arena too surged 6.5% to Rs 259, also its record high on BSE in intra-day. The company trimmed its consolidated net loss to Rs 7.95 crore in Q2FY16 from Rs 27.09 crore in a year ago quarter. It has also revised revenue guidance upward to 26-30% growth compared to the earlier levels of 22-26% growth.

	Price on BSE in Rs			% chg		Net profit/loss in Rs cr
Company	31 Dec,14	30 Sep,15	30 Oct,15	MTD	YTD	Sep'2014	Sep'2015
8K Miles	627.65	1401.75	1892.00	34.97	201.44	4.15	8.74
NIIT Tech.	371.70	472.25	598.00	26.63	60.88	40.10	68.20
Intellect Design	82.20	172.50	254.75	47.68	209.91	-17.46	-7.95
*Price as at 12:18 PM.,MTD - Month to date, YTD - Year to date