Sonata Software hits 52-week high on strong Q4 earnings

Sonata Software jumped 9.55% at Rs 59.05 at 15:12 IST on BSE, with the stock extending Tuesday's 20% rally triggered by the company reporting strong Q4 result.

Meanwhile, the BSE Sensex was down 3.33 points, or 0.01%, to 24,546.18

On BSE, so far 13.61 lakh shares were traded in the counter, compared with an average volume of 1.43 lakh shares in the past one quarter.

The stock hit a 52-week high of Rs 62.70 in intraday trade today, 28 May 2014. The stock hit a low of Rs 57 so far during the day. The stock hit a 52-week low of Rs 22.25 on 31 July 2013.

The stock had outperformed the market over the past one month till 27 May 2014, rising 10% compared with 8.2% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, gaining 4.76% as against Sensex's 16.97% rise.

The small-cap company has an equity capital of Rs 10.52 crore. Face value per share is Re 1.

Sonata Software's consolidated net profit rose 9.01% to Rs 23.57 crore on 11.07% decline in total income to Rs 345.73 crore in Q4 March 2014 over Q3 December 2013. The result was announced after market hours on Monday, 26 May 2014. The stock jumped by maximum permissible limit of 20% to settle at Rs 53.90 on Tuesday, 28 May 2014. The stock surged 31.36% in two trading days from its close of Rs 44.95 on 26 May 2014.

Sonata Software is a global IT services company that focuses on enabling businesses win value with strategic IT initiatives.

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