Saksoft Shares Soar 33% in 2 Days

Shares of Saksoft hit an all-time high of Rs 244.70.

Shares of Saksoft hit an all-time high of Rs 244.70, surging 17% in intraday trade on Wednesday. The stock has rallied 33% from the Rs 183.80 level in the past two days. The S&P BSE Sensex rose 0.06% to 60,165 at 11:35 am.

The average volume traded over the counter has more than doubled today. A total of 3.95 million shares have changed hands on the NSE and BSE so far, representing 3.7% of Saksoft’s total share capital.

So far in the current calendar year 2023, Saksoft shares have nearly doubled or gained 99%, while the S&P BSE Sensex has fallen 2%.

Saksoft is a leading digital transformation solutions partner for global fintech, transportation & logistics, telecommunications & utilities, retail e-commerce, and healthcare customers. The company provides business intelligence and information management solutions primarily to mid-sized companies located in the US and UK.

Saksoft initially served the Banking, Financial Services and Insurance (BFSI) market segment before moving to e-commerce, manufacturing, public sector and education verticals. The company now offers related services such as application development, testing and quality control, as well as cloud, mobile and Internet of Things (IoT)-based solutions, as well as information management (IM) and business intelligence (BI) solutions.

For the first nine months (April-December) of the 2022-23 fiscal year (9MFY23), Saksoft reported a 41.7% year-on-year increase in revenue to Rs 483.55 crore and a 24.7% year-on-year profit growth of Rs 569.9 crore after tax.

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