8K Miles Software hits record high

8K Miles Software Services was locked at 5% upper circuit at Rs 599.10 at 11:49 IST on BSE, with the stock extending Thursday's 5% rally triggered by the company announcing strong Q2 earnings.

Meanwhile, the S&P BSE Sensex was down 241.06 points or 0.9% at 26,396.22.

On BSE, so far 3,977 shares were traded in the counter as against average daily volume of 36,000 shares in the past two weeks.

The stock opened with an upward gap surging by the maximum permissible level of 5% and remained locked at 5% level at Rs 599.10 so far in the day, which is also its record high for the counter. The stock had hit a 52-week low of Rs 66 on 18 November 2013.

Shares of 8K Miles Software Services have rallied 10.24% in two trading sessions from Rs 543.45 on 8 October 2014, after the company after market hours on 8 October 2014 declared strong Q2 September 2014 results. The stock had surged by the maximum permissible level of 5% to settle at Rs 570.60 on Thursday, 9 October 2014.

8K Miles Software Services' consolidated net profit jumped 31.84% to Rs 4.14 crore on 29.01% growth in total income to Rs 27.08 crore in Q2 September 2014 over Q1 June 2014.

8K Miles Software Services offers cloud consulting, engineering and migration services to help companies leverage the power of cloud computing.

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