8K Miles corrects on profit booking

8K Miles Software Services fell 4.80% to Rs 536.50 at 12:55 IST on BSE on profit booking after a recent rally.

Meanwhile, the S&P BSE Sensex was up 360.88 points, or 1.11% to 32,968.22.

On the BSE, 34,000 shares were traded in the counter so far, compared with average daily volumes of 40,439 shares in the past one quarter. The stock had hit a high of Rs 570.45 and a low of Rs 530.10 so far during the day. The stock hit a 52-week high of Rs 814.70 on 7 November 2016. The stock hit a 52-week low of Rs 364.75 on 27 September 2017.

The stock had outperformed the market over the past one month till 24 October 2017, rising 47.45% compared with 3.10% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 5.07% as against Sensex's 0.69% rise. The scrip had underperformed the market in past one year, falling 25.66% as against Sensex's 16.08% rise.

The small-cap company has equity capital of Rs 15.26 crore. Face value per share is Rs 10.

Shares of 8K Miles Software Services rose 12.60% in two trading sessions to settle at Rs 563.55 yesterday, 24 October 2017, from its close of Rs 500.50 on 19 October 2017.

Meanwhile, Venkata Bhaskar Mylapore (MV Bhaskar) sold 1.53 lakh shares, or 0.50% equity, of 8K Miles Software Services at Rs 569 per share. As on 30 September 2017, MV Bhaskar held 1.64 lakh shares, or 0.54% equity, in the company.

On a consolidated basis, 8K Miles Software Services' net profit rose 11.24% to Rs 38.20 crore on 17.30% increase in net sales to Rs 195.42 crore in Q1 June 2017 over Q4 March 2017.

8KMiles Software Services is a global Cloud & Security solutions provider and Next Generation Cloud MSP, headquartered in the San Francisco Bay area. It offers secure Cloud solution allowing for organizations in highly regulated industries to embrace the Cloud.

Powered by Capital Market - Live News