Sonata Software shares hit 52-week high, turned ex-bonus today

Shares of multibagger Sonata Software Ltd gained 10% intraday as the IT stock turned ex-bonus on Tuesday. Sonata Software stock rose 9.96% to a 52-week high of Rs 775 against the previous close of Rs 704.75 on BSE. The IT stock has climbed 160.25% this year and gained 160% in a year. Sonata Software shares ended 7.12% higher at Rs 754.95 on Tuesday against the previous close of Rs 704.75. Total 1.38 lakh shares of the firm changed hands amounting to a turnover of Rs 10.40 crore on BSE. Market cap of the firm climbed to Rs 21,170 crore on BSE.

The company had announced a bonus issue of shares in the ratio of 1:1.

The multibagger IT stock fell to a 52-week low of Rs 261.03 on December 19, 2022.

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In terms of technicals, the relative strength index (RSI) of the stock stands at 63.1, signaling it's trading neither in the overbought nor in the oversold zone. Sonata Software stock is trading higher than the 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

Sonata Software reported a 10% year-on-year (YoY) rise in net profit at Rs 124.2 crore in Q2 against a profit of Rs 112.7 crore. Revenue climbed 28% to Rs 1,912.6 crore in Q2 from Rs 1,496.0 crore in the corresponding period of the preceding fiscal.

EBITDA rose 33% to Rs 220.5 crore in the second quarter against Rs 165.7 crore in the corresponding period of the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Sonata Software specialises in cloud and data modernisation, microsoft dynamics modernisation, digital contact center setup and management, managed cloud services and digital transformation services.

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