{"id":91873,"date":"2023-02-23T15:00:00","date_gmt":"2023-02-23T09:30:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=91873"},"modified":"2023-02-23T14:35:23","modified_gmt":"2023-02-23T09:05:23","slug":"it-stock-jumps-7-after-acquiring-us-based-company-are-you-holding-it","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/it-stock-jumps-7-after-acquiring-us-based-company-are-you-holding-it\/","title":{"rendered":"IT stock jumps 7% after acquiring US-based company; Are you holding it?"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1607139749\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Sonata Software Limited, an Indian information technology services company, saw its shares gain more than 5 percent till the afternoon on Thursday and were trading at Rs 725 levels.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2837574944\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The scrip remained in focus after its wholly owned subsidiary Sonata Software North America Inc signed a definitive agreement to purchase Quant Systems Inc., a Texas-based IT services Corporation. The company will make an upfront payment of US $65 Million followed by a Deferred achievement-based payment of US $95 Million over the next 2 years.\u00a0<\/p><p>Quant Systems, Inc. a Texas-based IT services Corporation, is an Enterprise Data Analytics and Cloud modernization service provider for leading Fortune 500 clients.&nbsp;<\/p><p>This acquisition is in line with Sonata\u2019s strategy to accelerate the growth curve and build scale. It will accelerate Sonata\u2019s capabilities in Enterprise Data Analytics, Cloud modernization, Cyber security, Salesforce, Data Privacy, Adobe, and Digital &amp; Mobile App solutions, including differentiated IPs for Salesforce (workbox.io) and Chatbot (Lisa) technologies.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-240280919\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/SONATSOFTW\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Sonata Software Limited<\/a><\/strong> provides services in business intelligence and analytics, application development management (ADM), mobility, cloud, social media, testing, enterprise services (ERP and CRM), and infrastructure management services.\u00a0<\/p><p>In the December quarter of FY23, the company reported a total revenue of Rs 2,260.78 Crore, which increased 22 percent YoY from Rs 1,858.02 Crore. From the previous quarter, their revenue jumped 51 percent from Rs 1,495.98 Crore.&nbsp;<\/p><p>Their net profit in the quarter under review was at Rs 117.66 Crore which jumped 20 percent YoY from Rs 97.67 Crore and 4 percent QoQ from Rs 112.71 Crore.&nbsp;<\/p><p>The stock has been rallying for the past month and has gained 23 percent. In the span of six months, the stock has logged a return of approximately 40 percent.&nbsp;<\/p><p>The stock has a market capitalization of Rs 10,192 Crore and a dividend yield of 2.84%. The promoters of the company hold a 28.17 percent stake while the Foreign Institutional Investors (FIIs) hold a 12.84 percent stake in the company.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Anoushka Roy<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-content-10\" id=\"trade-1638784366\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><div class=\"trade-after-content\" id=\"trade-3566376622\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Sonata Software Limited, an Indian information technology services company, saw its shares gain more than 5 percent till the afternoon on Thursday and were trading at Rs 725 levels.&nbsp; The scrip remained in focus after its wholly owned subsidiary Sonata Software North America Inc signed a definitive agreement to purchase Quant Systems Inc., a Texas-based [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":77504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[5472,3387,4447,4319,5426,4321,6561,6562,6563,6556,6560,6559,6558,6557,948,936,3153,3157,2597],"class_list":["post-91873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-it-stock-news","tag-it-stock-to-buy","tag-it-stock-to-watch","tag-it-stocks","tag-it-stocks-2023","tag-it-stocks-outlook","tag-small-cap-it-stocks","tag-small-cap-it-stocks-to-buy-now","tag-small-cap-it-stocks-with-high-returns","tag-sonata-software-limited","tag-sonata-software-limited-acquisitions-news","tag-sonata-software-limited-aquisition","tag-sonata-software-limited-latest-news","tag-sonata-software-limited-share-price","tag-stock-market","tag-stock-market-news","tag-stock-to-buy","tag-stock-to-watch","tag-stocks-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IT stock jumps 7% after acquiring US-based company; Are you holding it? - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Their net profit in the quarter under review was at Rs 117.66 Crore which jumped 20 percent YoY from Rs 97.67 Crore and 4 percent QoQ from Rs 112.71 Crore.\u00a0The stock has been rallying for the past month and has gained 23 percent. 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