Thinksoft Global Services hits 52-wk high, soars 36% in four-days

A combined 1.08 million shares have changed hands on the counter so far on the NSE and BSE

Thinksoft Global Services has soared over 14% to Rs 61.85 extending its past three days rally on back of huge volumes. A combined 1.08 million shares have changed hands on the counter so far, against an average sub 50,000 shares that were traded daily in past ten trading days on the NSE and BSE.

The stock rallied 36% in past four trading sessions, appreciating 73% since the Reserve Bank of India (RBI) has chosen the company to deliver a comprehensive end-to-end User Acceptance Testing with full project management responsibility on December 2011.

The company had reported a whopping 948% year-on-year growth in consolidated net profit at Rs 2.8 crore on back of 58% growth in revenues at Rs 33.6 crore for the quarter ended March 2012. EBIDTA margin improved 1371 bps at 14.1% as against 0.4% in the same quarter of previous fiscal.

“The strong built up in the order pipeline gives the confidence to sustain the momentum going forward,” the company said in a filing.