Saksoft rallies 43.9% in two days

Stock locked in upper circuit, extending the recent rally triggered after acquiring 51% stake in Threesixty Logica Testing

Saksoft was locked at 20% upper circuit at Rs 191.50  on BSE, with the stock extending recent rally triggered by the company acquiring 51% stake in Threesixty Logica Testing.

On BSE, so far 18,000 shares were traded in the counter as against average daily volume of 2,965 shares in the past one quarter.

The stock hit a low of Rs 168 so far during the day. The stock had hit a 52-week high of Rs 197 on 13 October 2014. The stock had hit a 52-week low of Rs 64 on 2 January 2014.

The stock had outperformed the market over the past one month till 1 January 2015, jumping 8.57% compared with the Sensex's 3.68% fall. The scrip had also outperformed the market in past one quarter, surging 14.29% as against Sensex's 3.54% rise.

Shares of Saksoft have rallied 43.98% in two trading sessions from Rs 133 on 31 December 2014, after the company before market hours yesterday, 1 January 2015 said it has signed the share purchase agreement on 31 December 2014, towards acquisition of 51% of the share capital of ThreeSixty Logica Testing, a testing services company. The stock galloped by the maximum permissible level of 20% to settle at Rs 159.60 yesterday, 1 January 2015.