Cambridge Tech climbs higher after signing agreement with Atlassian

Cambridge Technology Enterprises gained 1.95% to Rs 70.70 at 14:55 IST on BSE after the company announced that it has signed an agreement with Atlassian to engage in the Atlassian Solution Partner Program.

The announcement was made during market hours today, 18 August 2017.

Meanwhile, the S&P BSE Sensex was down 266.08 points or 0.84% at 31,529.38. The S&P BSE Small-Cap index was down 86.56 points or 0.55% at 15,607.97.

On the BSE, 5,780 shares were traded in the counter so far as against average daily volume of 4,990 shares in the past one quarter. The stock had hit a high of Rs 70.70 and a low of Rs 70.60 so far during the day. The stock had hit a 52-week high of Rs 142.05 on 26 August 2016. The stock had hit a 52-week low of Rs 64.65 on 14 August 2017.

The stock rose 7.2% in four sessions to its ruling price from a close of Rs 65.95 on 11 August 2017.

The stock had underperformed the market over the past one month till 17 August 2017, falling 17.78% compared with the Sensex's 0.87% decline. The stock had also underperformed the market over the past one quarter, dropping 22.03% as against the Sensex's 3.71% rise. The scrip had also underperformed the market over the past one year, falling 44% as against the Sensex's 13.53% rise.

The small-cap company has equity capital of Rs 19.63 crore. Face value per share is Rs 10.

With more than 15 years of experience helping teams organize, discuss and complete work, Atlassian's tools support all types of teamwork, from ad-hoc information sharing and planning to highly structured collaborative workflows.

As an Atlassian Solution Partner, Cambridge Technology Enterprises (CTE) will be consulting, implementing and delivering solutions to customers, enabling them to unleash their teams' potential. By leveraging products like by JIRA Software, JIRA Service Desk, JIRA Core, Status Page, Confluence, Trello and HipChat, customers are able to quickly collaborate on various issues and experience better project transparency.

Cambridge Technology Enterprises' consolidated net profit fell 20.36% to Rs 4.38 crore on 2.02% decline in net sales to Rs 25.19 crore in Q4 March 2017 over Q3 December 2016.

Cambridge Technology Enterprises (CTE) is a leading global technology company transforming organizations into "AI-first" leaders.

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