Sonata Software jumps on incorporating wholly owned subsidiary in Malaysia
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Sonata Software is currently trading at Rs. 1023.65, up by 12.65 points or 1.25% from its previous closing of Rs. 1011.00 on the BSE.
The scrip opened at Rs. 1015.05 and has touched a high and low of Rs. 1030.60 and Rs. 1013.35 respectively. So far 14585 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1078.15 on 12-Jun-2023 and a 52 week low of Rs. 457.50 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1078.15 and Rs. 995.80 respectively. The current market cap of the company is Rs. 14434.17 crore.
The promoters holding in the company stood at 28.17%, while Institutions and Non-Institutions held 26.81% and 45.02% respectively.
Sonata Software has incorporated wholly owned subsidiary namely ‘Sonata Software Malaysia SDN. BHD’ (Sonata Malaysia) with effect from June 13, 2023, to provide end?to?end solutions to Information Technology Services. The paid-up share capital of Sonata Malaysia is Malaysian Ringgit 10,000 (10,000 equity shares of MYR 1 each) for which no government/ regulatory approval is required.
The Company holds 100% shareholding of Sonata Malaysia. The initial subscription in Sonata Malaysia by the Company does not fall under the purview of Related Party transaction and the promoter/ promoter group/ group companies do not have any interest in Sonata Malaysia. The newly incorporated entity is to commence operations soon.
Sonata Software is a global IT services firm focused on catalysing transformational IT Initiatives of its clients through deep domain knowledge, technology expertise and customer commitment.
