 "8K Miles Software zooms over 50% in seven days")
Shares of internet software and services provider - 8K Miles Software Services - have soared 17% to Rs 256, also its record high on National Stock Exchange (NSE) on back of heavy volumes.
At 1050 hours, a combined 477,565 shares representing 4.75% of total equity of 8K Miles Software Services changed hands against an average 100,000 shares that were traded daily in past two weeks on NSE and BSE.
Since August 4, the stock has rallied 55% from Rs 165 after reporting nearly three-fold jump in consolidated net profit at Rs 3.15 crore for the quarter ended June 2014 (Q1). The company had profit of Rs 1.15 crore in the same quarter last fiscal. Total operational revenues also grew by 219% to Rs 21 crore from Rs 7 crore.
On August 8, DSP Blackrock bought 303,529 shares representing 3% of total equity of 8K Miles Software Services at a price of Rs 175 per share via open market.
8K MILES is an Internet based company focused on helping enterprise and small and medium businesses integrate Cloud computing into their information technology and business strategies. The company provides Cloud consulting and migration, big data (Hadoop) services, remote infrastructure management, backup and disaster recovery services over Amazon Web Services (AWS), Windows Azure and other Cloud platforms.
The promoters - Venkatachari Suresh (59.10%) and others held a combined 66.28% stake in the company. Non-resident Indians have 4.65% stake and bodies corporate held 3.37%, while the remaining 25.29% stake held by individual shareholders.
At 1050 hours, a combined 477,565 shares representing 4.75% of total equity of 8K Miles Software Services changed hands against an average 100,000 shares that were traded daily in past two weeks on NSE and BSE.
Since August 4, the stock has rallied 55% from Rs 165 after reporting nearly three-fold jump in consolidated net profit at Rs 3.15 crore for the quarter ended June 2014 (Q1). The company had profit of Rs 1.15 crore in the same quarter last fiscal. Total operational revenues also grew by 219% to Rs 21 crore from Rs 7 crore.
On August 8, DSP Blackrock bought 303,529 shares representing 3% of total equity of 8K Miles Software Services at a price of Rs 175 per share via open market.
8K MILES is an Internet based company focused on helping enterprise and small and medium businesses integrate Cloud computing into their information technology and business strategies. The company provides Cloud consulting and migration, big data (Hadoop) services, remote infrastructure management, backup and disaster recovery services over Amazon Web Services (AWS), Windows Azure and other Cloud platforms.
The promoters - Venkatachari Suresh (59.10%) and others held a combined 66.28% stake in the company. Non-resident Indians have 4.65% stake and bodies corporate held 3.37%, while the remaining 25.29% stake held by individual shareholders.