Sonata Software surges 26% in one month; stock nears record high

The new CEO has reiterated that he is planning to double IT services revenue in four years as he is looking to accelerate the growth from hereon

Shares of Sonata Software continued at their northward movement, hitting a fresh 52-week high of Rs 739, as they rallied 9 per cent on the BSE in Monday's intra-day trade amid heavy volumes. The stock of the information technology (IT) company surpassed its previous high of Rs 689.95, touched on February 16. It was quoting close to its record high level of Rs 773, hit on October 20, 2021.

In the past one month, Sonata Software has outperformed the market by surging 26 per cent after the company reported a strong financial performance for the quarter ended December 2022(Q3FY23).