8K Miles Software Services was locked at 10% upper circuit at Rs 625.65 at 12:12 IST on BSE after the company's US subsidiary acquired SERJ Solutions, a provider of innovative Epic EHR consulting, custom application development, and support solutions
The announcement was made before market hours today, 27 November 2014.
Meanwhile, the S&P BSE Sensex was down 9.65 points or 0.03% at 28,376.54
On BSE, so far 56,000 shares were traded in the counter with pending buy orders of 10,118 shares at upper circuit. The stock has an average daily volume of 44,631 shares in the past one quarter.
The stock hit a high of Rs 625.65 and a low of Rs 577 so far during the day. The stock had hit a record high of Rs 804 on 27 October 2014. The stock had hit a 52-week low of Rs 69 on 27 November 2013.
The stock had underperformed the market over the past one month till 26 November 2014, falling 25.87% compared with the Sensex's 5.72% rise. The scrip had, however, outperformed the market in past one quarter, jumping 106.87% as against Sensex's 7.35% rise.
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The small-cap company has an equity capital of Rs 10.04 crore. Face value per share is Rs 10.
8K Miles Software Services through its US subsidiary, on Wednesday, 26 November 2014 announced the acquisition of SERJ Solutions, a provider of innovative Epic EHR consulting, custom application development, and support solutions for the healthcare market. This move solidifies 8K Miles' goal to offer a unique and differentiated cloud-managed solution to the Healthcare sector, the company said. 8K Miles further informed that it hopes to help hospitals and healthcare providers by providing the industry's first truly end to end Software as a Service (SaaS) technology platform by leveraging its expertise in cloud solutions.
The new healthcare offering will allow healthcare providers to take advantage of 8K Miles cloud technology platform to deploy key IT services at a fraction of the cost of current offerings while addressing their identity, privacy, security and compliance needs, 8K Miles Software Services said.
8K Miles Software Services' consolidated net profit jumped 31.74% to Rs 4.15 crore on 28.95% growth in total income to Rs 27.08 crore in Q2 September 2014 over Q1 June 2014.
8K Miles Software Services offers global secure cloud solutions and managed services. The company provides digital technology solutions - SMAC (Social, Mobile, Analytics and Cloud) for seamless connectivity between consumers, SMBs, enterprises and government agencies.
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