8K Miles rallies 42% in 7-days after stake sale by promoter M V Bhaskar

The stock rallied 11% to Rs 800 in intra-day trade, extending its past three days 29% surge on the BSE, in otherwise subdued market.

8K Miles Software Services rallied 11% to Rs 800 in intra-day trade, extending its 29% rally of the last three sessions on the BSE, in an otherwise subdued market.

The disclosure made by the company to the stock exchange reveals that M V Bhaskar (Venkata Bhaskar Mylapore), one of the promoters of 8K Miles Software Services, had sold 153,253 equity shares representing 0.5% stake in open market on October 24, 2017.

Post transaction, M V Bhaskar holding in the company stood at 0.04% from 0.54% earlier.

“I am not into the board for past four years and