The domestic stock market might be in turmoil, but Sonata Software is making waves with a remarkable 5% surge in its shares.
On Thursday, the IT services company’s stock jumped to Rs 1101.50, up from Rs 1042.40 on Wednesday.
This surge follows the company’s positive quarterly results and exciting announcements for its investors.
Sonata Software is showering its investors with bonus shares, declaring a 1:1 ratio, meaning that for every existing share, shareholders will receive one additional bonus share.
Although the company hasn’t yet set a record date for these bonus shares, this move is reminiscent of the 1:3 bonus share offering they provided back in September 2022, where shareholders received one bonus share for every three shares held.
In another exciting development, Sonata Software’s board has declared an interim dividend of 700% (Rs 7 on each share) for the financial year 2023-24. The record date for this dividend has been set for November 7, 2023.
Backing these investor-friendly moves is the company’s robust financial performance in the September quarter of the current fiscal year.
Sonata Software reported a consolidated profit of Rs 124.2 crore, with quarterly revenue reaching Rs 1912.6 crore.
For investors, the future of Sonata Software seems promising, with the stock reaching a 52-week high of Rs 1156, while its 52-week low stands at Rs 510.
