India's Sonata Software soars to 16-month high

Sonata Software

20/02/2023 07:04

** Shares of Sonata Software Ltd  SOFT.NS  rise as much as
10% to 748 rupees, their highest since Oct. 20, 2021
    ** Information technology services firm posts biggest
intraday pct jump since Sept. 8, 2022
    ** Stock up for fourth straight session, on track for best
run since late November last year
    ** SOFT most active since July 21, 2022 with over 1.8 mln
shares changing hands by 12:25 p.m. IST, 9.1x their 30-day avg
volume
    ** Relative Strength Index seen above 70, indicating it is
overbought
    ** Four of the seven analysts covering the stock have a
"buy" or "strong buy" rating, three have "hold"; median PT is
700 rupees - Refinitiv data
    ** Stock up 32.4% at current levels; finished 14.2% lower in
2022, posting its first annual drop since 2011
 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))