Sonata Software hits new high; stock up 44% since start of the year

Acquisition of Quant Systems will strengthen Sonata offering in BFSI and Healthcare & Life science verticals which will aid the revenue growth of company, say analyst at ICICI Securities.

Shares of Sonata Software hit a new high of Rs 809 as they rallied 5 per cent on the BSE in Thursday’s intra-day trade on strong dollar revenue growth outlook.

Thus far in the calendar year, the stock of information technology (IT) has zoomed 44 per cent, as compared to 3.4 per cent decline in the S&P BSE Sensex. At 09:52 AM; it quoted 3 per cent higher at Rs 796.40, as against 0.56 per cent fall in the benchmark index.

In past one month, stock price of Sonata Software has soared 27 per cent, after the company