Saksoft hits new high on credit rating upgrade; stock surges 14%

The stock has rallied 14% to Rs 343, extending its 6% gain on the BSE in past two days, after the rating agency CARE Rating upgraded the long-term bank facilities of the company with positive outlook.

Shares of Saksoft have rallied 14% to Rs 343 per share, extending their 6% gain on the BSE in the past two days, after the rating agency CARE Rating upgraded the long-term bank facilities of the company with a positive outlook. The stock of information technology (IT) software products firm was trading at its 52-week high level on the BSE.

“The outlook is ”Positive” as CARE believes that going forward, with the shift in strategy of the company to move into higher margin services in the Information Management space and ability to cross sell services with recent acquisitions, the