Multibagger IT stock in news today, here's why  

Shares of multibagger Sonata Software are in news on Thursday after the company said it has announced a strategic partnership with insurance technology provider iNube to enhance go-to-market efforts for insurers in the US and UK.

The multibagger stock has risen 124% in two years and gained 427% in five years. Sonata Software shares ended 0.22% higher at Rs 578.40 on Wednesday against the previous close of Rs 577.15 on BSE. Total 0.47 lakh shares of the firm changed hands amounting to a turnover of Rs 2.74 crore on BSE. Market cap of the firm stood at Rs 16,219 crore on BSE.  

The multibagger IT stock fell to a 52-week low of Rs 469.05 on June 4, 2024 and a record high of Rs 867.10 on February 27, 2024.

"iNube, a prominent Insurance technology provider, today announced strategic partnership with Sonata Software, a leading Modernization Engineering company, to bolster goto-market efforts for Insurers in the US and UK," said the firm. 

"This partnership combines Sonata Software’s comprehensive delivery capabilities and global scale and iNube’s deep expertise in insurance to deliver insurance solutions that integrate seamlessly enhance operational efficiency. The collaboration provides insurers with the agility to stay ahead in a rapidly evolving landscape, elevating their go-to-market strategies. The joint offering will provide insurers accelerated access to cutting-edge digital platform that streamline policy administration, claims processing, and customer engagement," added Sonata Software. 

Sonata Software specialises in cloud and data modernisation, Microsoft Dynamics Modernization, digital contact center setup and management, managed cloud services and digital transformation services.