Saksoft hits a new high

Saksoft is an IT company providing digital transformation solutions and helping businesses stay relevant in a highly connected, rapidly evolving world. Saksoft offers like strategic consulting, information management, application development.

The stock price today surged 14% to Rs.342.80; it has come off the high but remains firmly in te green, up some 8%.

The stock price hit a high after the company announced that rating agency CARE Rating has upgraded the long-term bank facilities of the company with a positive outlook. 

CARE stated, “The outlook is ”Positive” as CARE believes that going forward, with the shift in strategy of the company to move into higher margin services in the Information Management space and ability to cros sell services with recent acquisitions, the company is expected to report higher operating profit. The reliance on debt is low and the capital structure is expected to remain comfortable. The outlook may be revised to ’Stable’ if the company is not able to maintain its profitability levels or if there is any adverse change in the capital structure of the company.”