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8K Miles Software Services soared by 15% to Rs 1,105, also its lifetime high on the National Stock Exchange (NSE), in an otherwise subdued market.
The stock of the leading global cloud & security solutions company has outperformed the market by surging 31% from its recent low of Rs 841 touched on August 13, compared to a 6% decline in the CNX Nifty during the period.
The company had reported a more-than-100% growth in consolidated net profit at Rs 7.22 crore for the quarter ended June 2015 against Rs 3.15 crore in the corresponding quarter of the previous year.
While announcing June quarter results on July 8, Suresh Venkatachari, chairman and managing director, 8K Miles Software Services said, “We see strong growth for our public cloud transformation business as our partners like Amazon Web Services recently announced that their overall cloud infrastructure services revenue for the last fiscal year was exceeding over 5 billion dollars. This level of maturity in enterprise cloud adoption will continue to drive bigger opportunities for our secured cloud platform.”
At 12:23 PM, the stock was up 12% at Rs 1,080 on the NSE. A combined 89,948 shares have changed hands on the counter on the NSE and BSE so far.
The stock of the leading global cloud & security solutions company has outperformed the market by surging 31% from its recent low of Rs 841 touched on August 13, compared to a 6% decline in the CNX Nifty during the period.
The company had reported a more-than-100% growth in consolidated net profit at Rs 7.22 crore for the quarter ended June 2015 against Rs 3.15 crore in the corresponding quarter of the previous year.
While announcing June quarter results on July 8, Suresh Venkatachari, chairman and managing director, 8K Miles Software Services said, “We see strong growth for our public cloud transformation business as our partners like Amazon Web Services recently announced that their overall cloud infrastructure services revenue for the last fiscal year was exceeding over 5 billion dollars. This level of maturity in enterprise cloud adoption will continue to drive bigger opportunities for our secured cloud platform.”
At 12:23 PM, the stock was up 12% at Rs 1,080 on the NSE. A combined 89,948 shares have changed hands on the counter on the NSE and BSE so far.
