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The company has fixed February 24 as the record date for the purpose of determining the eligibility of shareholders. The stock has risen about 295.34% in the last six months. So far this year, the shares have lost 6.59% on a year-to-date basis.

The Relative Strength Index of the stock stood at 30.07 on Thursday.

A total of 2,376,567 shares changed hands on the counter till 02:14PM (IST)

The brokerage has tweaked its FY2023-FY2025E estimates to build in higher sales and gradual margin recovery.

The stock rose more than 16% in the last one month which helped the stock to breakout from a descending triangle pattern which is a bearish pattern. A breakout suggests that bulls have taken control.

On the technical charts, the RSI of the stock stood at 34.35.

Sonata Software is to make an upfront payment of $65 million and a $95 million achievement-based payment over the next two years. The acquisition is a cash deal and expected to be closed within 30 days subject to the completion of customary closing conditions.

The company recently reported a widening of net loss in the December 2022 quarter at Rs 196 crore, compared with Rs 126 crore in the same quarter of last year. Revenue from operations fell 9% YoY to Rs 1,823 crore for the quarter under review.

The stock traded at a P/E multiple of 52.03, while the price-to-book value ratio stood at 19.41.

A total of 6,919 shares changed hands on the counter till 01:22PM (IST).