Intraday Spotlight: This smallcap IT stock jumped over 10 per cent today

The company is the leading gainer in the A group

Cigniti Technologies Ltd, a smallcap IT consulting and software company, has jumped by over 10 per cent today from its previous close of Rs 424.85. The stock opened at Rs 437.25 and has made its day high of Rs 473.60. 

As of 11:40 am today, the stock was trading near Rs 467 on the BSE. This AI-driven company is currently the leading gainer in group A on the BSE.      

With Sensex trading flat today, this IT company has been flying with a strong outlook for the future. In a recent interview, its CEO Srikanth Chakkilam said that the management expects business growth volume to improve and overall business to pick up for the upcoming quarters. For the latest quarter ended December, the revenue grew by 45.36 per cent YoY to Rs 325.46 crore and the net profit grew by 0.79 per cent YoY to Rs 26.55 crore.     

Cigniti Technologies Limited is a global leader in providing AI-driven, IP-led, strategic digital assurance, software quality engineering, testing and consulting services. The company has India’s first one of its kind robotics test lab. 

The stock has a 52-week high and low of Rs 677 and Rs 311, respectively.