Shares of Saksoft jump 7 per cent post rating upgrade

On January 14, 2020 (Tuesday), Credit Analysis and Research Limited (CARE) assigned an upward rating to the long-term bank facilities of Saksoft Limited from 'CARE BBB+' to 'CARE A-'.

The revision in the rating assigned to the bank facilities of Saksoft Limited has been attributed to the consistent improvement in the scale of operations of the company along with an improved profitability over the last few years. Additionally, the rating revision was also driven by the company's comfortable leverage position and debt coverage indicators over the years. The company's long operational track record with established clients and its well-qualified management team were among the other factors that contributed to the change in rating.

Saksoft Limited is an Information Technology (IT) company that provides business intelligence, testing and software solutions across a range of industries and verticals. It provides a range of software solutions, including information management strategy, consulting, design, custom application development, business intelligence and data warehouse services. It has operations in India, United Kingdom, United States and Singapore.

On Tuesday, the stock closed at Rs 234.70, up by 6.97 per cent or Rs 15.30 per share. The 52-week high is recorded at Rs 367 and the 52-week low is recorded at Rs 186.50 on BSE.