8k Miles Software Services jumped 8.29% to Rs 852.65 at 10:25 IST on BSE after the company announced the launch of proprietary Blockchain platform, 8K Health Edge.
The announcement was made after market hours yesterday, 15 February 2018.Meanwhile, the S&P BSE Sensex was up 51.73 points or 0.15% at 34,349.20. The S&P BSE Small-Cap index was down 42.92 points or 0.24% at 18,215.24.
On the BSE, 1.18 lakh shares were traded on the counter so far as against average daily volumes of 37,556 shares in the past one quarter. The stock had hit a high of Rs 866.65 and a low of Rs 800 so far during the day. The stock had hit a record high of Rs 1,024 on 29 November 2017 and a 52-week low of Rs 364.75 on 27 September 2017.
The stock had underperformed the market over the past 30 days till 15 February 2018, falling 3.43% compared with 2.24% fall in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 6.59% as against Sensex's 2.86% rise. The scrip, however, outperformed the market in past one year, gaining 32.61% as against Sensex's 21.19% rise.
The small-cap company has equity capital of Rs 15.26 crore. Face value per share is Rs 5.
8K Miles Software Services announced that the company is launching 8K Health Edge, a proprietary Blockchain platform which may translate into solutions for some of the most complex problems in global healthcare. As the world's healthcare needs not only continue to grow and become more complex, technology such as Blockchain is underutilized, 8K Miles Software Services said.
Suresh Venkatachari, Chief Executive Officer, 8K Miles Software Services said that Blockchain allows organization of any chain of records or transactions without the need of intermediaries, and reducing the number of intermediaries in healthcare delivery, which will subsequently reduce costs and allow for real time solutions. Ability to establish trust-based network between entities and inherent security that comes with it, makes Blockchain ideal for Health Information Management, Venkatachari said.
8K Miles Software Services' consolidated net profit rose 9.05% to Rs 44.80 crore on 6.31% growth in total income to Rs 224.46 crore in Q3 December 2017 over Q2 September 2017.
8K Miles Software Services is a global Cloud & Security solutions provider and Next Generation Cloud MSP, headquartered in the San Francisco Bay area.
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