8K Miles up 10% as board approves proposal to buy Cornerstone

Shares of 8K Miles Software Services surged nearly 10 per cent on bourses today after the company's board approved the proposal to acquire the US-based health care information technology services firm Cornerstone.
On BSE, the stock opened at Rs 653 and touched a high of Rs 701.90, up 9.74 per cent from its previous close. At 1328 hours, it was trading 5.23 per cent up at Rs 673.
Similarly, the scrip opened at Rs 649.70 and registered a jump of 9.06 per cent to touch a high of Rs 702 on NSE. At 1328 hours, it was trading at Rs 671.95, up 4.40 per cent.

In a filing to BSE, 8K Miles Software Services said its board of directors at a meeting today "approved the proposal to acquire Cornerstone, a leading health care information technology services company.