Sonata Software gained 3.47% at Rs 101.30 at 12:43 IST on BSE, after the company said it has strengthened travel vertical with acquisition of stake in Rezopia Inc.
Meanwhile, the BSE Sensex was up 177.01 points, or 0.67%, to 26,596.56
On BSE, so far 2.28 lakh shares were traded in the counter, compared with an average volume of 2.49 lakh shares in the past one quarter.
The stock hit a 52-week high of Rs 102.05 in intraday trade today, 25 August 2014. The stock hit low of Rs 95.50 so far during the day. The stock hit a 52-week low of Rs 23.20 on 22 August 2013.
The stock had outperformed the market over the past one month till 22 August 2014, rising 27.23% compared with 1.51% rise in the Sensex. The scrip had also outperformed the market in past one quarter, surging 116.35% as against Sensex's 8.39% rise.
The small-cap company has an equity capital of Rs 10.52 crore. Face value per share is Re 1.
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Sonata Software today, 25 August 2014 announced acquisition of a strategic controlling stake in Rezopia Inc., the first cloud based end to end reservations, contracts, operations and distribution management systems platform for travel providers, headquartered in California, USA. The acquisition is aimed at enabling both companies to leverage mutual strengths and opportunities in serving emerging IT solution needs in the global Travel industry. In a separate transaction, Sonata Software will also acquire the businesses of Xyka India which is the primary service provider to Rezopia's platform. The initial announcement of the twin acquisitions was made by Sonata Software at the fag end of market hours on Friday, 22 August 2014.
Meanwhile, Sonata Software said that a meeting of the board of directors of the company will be held on 8 September 2014, to consider declaration of special interim dividend as may be approved by the board of directors. The company has fixed 15 September 2014 as the record date for the purpose of payment of special interim dividend.
Sonata Software's consolidated net profit rose 35.97% to Rs 32.05 crore on 22.12% rise in total income to Rs 422.21 crore in Q1 June 2014 over Q4 March 2014.
Sonata Software is a global IT services company that focuses on enabling businesses win value with strategic IT initiatives.
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