8K Miles surges about 38% in six sessions

8K Miles Software Services rose 5.63% to Rs 508.80 at 15:15 IST on BSE, with the stock extending recent gains on strong buying interest.

Meanwhile, the S&P BSE Sensex was up 235.10 points, or 0.74% to 31,827.13.

On the BSE, 1.22 lakh shares were traded in the counter so far, compared with average daily volumes of 36,421 shares in the past one quarter. The stock had hit a high of Rs 518 and a low of Rs 472.50 so far during the day. The stock hit a 52-week high of Rs 840 on 10 October 2016. The stock hit a 52-week low of Rs 364.75 on 27 September 2017.

The stock had underperformed the market over the past one month till 5 October 2017, falling 2.98% compared with 0.22% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 11.87% as against Sensex's 0.74% rise. The scrip had also underperformed the market in past one year, falling 38.98% as against Sensex's 12.40% rise.

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

Shares of 8K Miles Software Services spurted 37.63% in six trading sessions to its current market price of Rs 508.80, from a close of Rs 369.70 on 27 September 2017.

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.

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