Four Soft surges as board mulls acquisition of Deals15.com

Four Soft was locked at 5% upper circuit at Rs 17.05 at 14:45 IST on BSE after the company said its board will meet on 8 January 2014, to consider the proposal for acquisition of Deals15.com from Premium Web Services.

The announcement was made after market hours on Friday, 3 January 2014.

Meanwhile, the S&P BSE Sensex was down 99.17 points or 0.48% at 20,752.16.

On BSE, so far 6,665 shares were traded in the counter as against average daily volume of 19,320 shares in the past one quarter.

The stock hit a low of Rs 16.15 so far during the day. The stock had hit a 52-week high of Rs 41.15 on 15 October 2013. The stock had hit a 52-week low of Rs 11 on 25 March 2013.

The stock had underperformed the market over the past one month till 3 January 2014, declining 2.11% compared with the Sensex's 0.02% fall. The scrip had also underperformed the market in past one quarter, sliding 48.9% as against Sensex's 4.77% rise.

The small-cap company has equity capital of Rs 19.52 crore. Face value per share is Rs 5.

Four Soft said that its board of directors will meet on 8 January 2014, to consider the proposal for acquisition of Deals15.com from Premium Web Services. The board will also consider proposal of merger of Paired Media and Entertainment and Pal Premium Online Media with Paired Technologies (formerly known as Four Soft).

Four Soft's consolidated net profit declined 39.2% to Rs 2.45 crore on 18.48% growth in net sales to Rs 35.71 crore in Q2 September 2013 over Q1 June 2013.

Four Soft is a leading transportation and logistics software products company providing innovative and integrated enterprise solutions.

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