52-week high alert and FIIs & DIIs increase stake; Board likely to announce bonus shares!

The stock gave multibagger returns of 120 per cent in just 1 year, 325 per cent in 3 years and a whopping 4,800 per cent in 1 decade.

Sonata Software Ltd, a leading modernization engineering company, has announced that the Board Meeting of the company is scheduled on Wednesday, October 25, 2023, inter alia, to consider and approve standalone as well as consolidated unaudited financial results of the company for the quarter and half year ended September 30 2023. Additionally, the company may consider a proposal for the issue of bonus shares in the aforesaid board meeting.
Sonata Software also announced a partnership with Global Cloud Xchange (GCX), a leading network service provider. Sonata will help GCX transform its enterprise operations, systems, and business intelligence systems using Cloud, Data, and Generative AI technologies. The multi-year partnership is expected to help GCX improve its operations and overall business performance.

On Friday, shares of Sonata Software Ltd gained 4.62 per cent to make a new 52-week high of Rs 1,156 per share from its previous closing of Rs 1,104.95. At the closing bell, shares of the company were trading at Rs 1,111.75 per share, up 0.62 per cent with a spurt in volume by more than 3.65 times on BSE.  

According to the financials, Sonata Software reported positive numbers in its Quarterly Results (Q1FY24) and annual results (FY23). The company has delivered good profit growth of 19.2 per cent CAGR over the last 5 years and has been maintaining a healthy dividend payout of 55.3 per cent.

The shares of the company have a ROE of 37.7 per cent and a ROCE of 49.1 per cent. In the September quarter, FIIs have increased their stake from 13.59 per cent to 14.98 per cent and DIIs have increased their stake from 14.31 per cent to 16.38 per cent.

The stock gave multibagger returns of 120 per cent in just 1 year, 325 per cent in 3 years and a whopping 4,800 per cent in 1 decade. Investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.