Saksoft rallies 43.9% in two days

Saksoft was locked at 20% upper circuit at Rs 191.50 at 12:28 IST on BSE, with the stock extending recent rally triggered by the company acquiring 51% stake in Threesixty Logica Testing.

Meanwhile, the S&P BSE Sensex was up 363.47 points or 1.32% at 27,871.01.

On BSE, so far 18,000 shares were traded in the counter as against average daily volume of 2,965 shares in the past one quarter.

The stock hit a low of Rs 168 so far during the day. The stock had hit a 52-week high of Rs 197 on 13 October 2014. The stock had hit a 52-week low of Rs 64 on 2 January 2014.

The stock had outperformed the market over the past one month till 1 January 2015, jumping 8.57% compared with the Sensex's 3.68% fall. The scrip had also outperformed the market in past one quarter, surging 14.29% as against Sensex's 3.54% rise.

The small-cap firm has equity capital of Rs 10.36 crore. Face value per share is Rs 10.

Shares of Saksoft have rallied 43.98% in two trading sessions from Rs 133 on 31 December 2014, after the company before market hours yesterday, 1 January 2015 said it has signed the share purchase agreement on 31 December 2014, towards acquisition of 51% of the share capital of ThreeSixty Logica Testing, a testing services company. The stock galloped by the maximum permissible level of 20% to settle at Rs 159.60 yesterday, 1 January 2015.

Saksoft's consolidated net profit rose 10% to Rs 3.74 crore on 2.89% rise in total income to Rs 58.73 crore in Q2 September 2014 over Q2 September 2013.

Saksoft is a provider of Information Management solutions to successful organizations around the world.

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