Sonata Software program climbs over 5% after signing largest-ever contract

Shares of Sonata Software program rallied 5.2 % on Wednesday, March 22, after the corporate introduced signing of its largest-ever contract for 10 years with a US-based shopper retail firm.

The contract has a Whole Contract Worth (TCV) of USD 160 million and can contain the administration of end-to-end IT modernisation and transformation for the shopper.

Throughout Wednesday’s commerce, the inventory opened at a worth of 826 per share in opposition to the earlier shut of 802.65 per share and grew additional throughout the early buying and selling session to the touch an intraday excessive of 845.

Sonata Software program was buying and selling at 824.70 apiece, up by 2.75 % at 11:00 a.m. on the NSE.

The inventory touched a 52-week-high of Rs. 855.60 on March 15, 2023, and a 52-week-low of Rs. 457.58 on June 20, 2022, indicating that on the present degree, the inventory is buying and selling over 80 % above its 52-week low and simply 3.6 % beneath its 52-week excessive.

The inventory has grown almost 19.5 % within the final one month. Furthermore, previously six months, it has yielded a return of 54.04 %. Moreover, the inventory has gained over 268.12 % within the final 5 years.

Inventory worth chart of Sonata Software program

On March 2, 2023, the shares of Sonata Software program rallied after the digital engineering firm introduced that it has signed up with Mumbai Indians as an Affiliate Associate forward of the premier T20 ladies’s league in India.

Earlier, Sonata’s wholly-owned US subsidiary underwent its biggest-ever acquisition, buying a one hundred pc stake in US-based Quant Programs (QS) for complete consideration of $160 million (4.3x gross sales) – $65 million to be paid upfront whereas the remainder of $95 million to be paid in subsequent 2 years primarily based on sure milestones.

As well as, Sonata has been chosen as the highest System integration (SI) associate for Bayer’s new cloud options for the agri-food business.

Moreover, the corporate has signed an settlement with enterprise search chief Sinequa, enabling clients to entry a strong clever search resolution.

The corporate reported a powerful monetary efficiency for the quarter that resulted in December 2022. The corporate’s consolidated revenue after tax jumped 20 % YoY and 4 % QoQ to 117.60 crore.

Sonata Software program is primarily engaged within the enterprise of delivering info know-how companies and software program options. It supplies options for journey, rail and airline corporations by integrating applied sciences, corresponding to omni-channel commerce, mobility, analytics, cloud and enterprise useful resource planning.

Based on a MintGenie ballot, a mean of 6 analysts have a ‘BUY’ name on the inventory.

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