8k Miles Software advances as DSP Blackrock Fund hikes stake

8k Miles Software Services rose 3.64% to Rs 810 at 9:33 IST on BSE after DSP Blackrock Mutual Fund bought bulk shares of the company yesterday, 22 January 2018.

Meanwhile, the S&P BSE Sensex was up 216.39 points or 0.6% at 36,014.40. The S&P BSE Small-Cap index advanced 0.53%, underperforming the Sensex.

On the BSE, 12,000 shares were traded on the counter so far as against average daily volumes of 59,511 shares in the past one quarter. The stock had hit a high of Rs 819.85 and a low of Rs 798 so far during the day. The stock had hit a record high of Rs 1,024 on 29 November 2017 and a 52-week low of Rs 364.75 on 27 September 2017.

The small-cap company has equity capital of Rs 15.26 crore. Face value per share is Rs 5.

Promoter Ramani R S sold 6.82 lakh shares of 8k Miles Software Services at an average price of Rs 749.32 per share in a bulk deal on the NSE yesterday, 22 January 2018. DSP Blackrock Mutual Fund bought 4.26 lakh shares at Rs 748 apiece. Ramani controlled 3.79% while DSP Blackrock Micro Cap Fund owned 2.23% stake end December 2017.

8K Miles Software Services' consolidated net profit rose 7.84% to Rs 41.08 crore on 7.77% growth in net sales to Rs 210.62 crore in Q2 September 2017 over Q1 June 2017.

8K Miles 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.

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