Sonata Software jumps on winning multi-year AI-driven managed services contract
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Sonata Software is currently trading at Rs. 606.65, up by 22.25 points or 3.81% from its previous closing of Rs. 584.40 on the BSE.
The scrip opened at Rs. 609.95 and has touched a high and low of Rs. 613.55 and Rs. 582.70 respectively. So far 30410 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 867.10 on 27-Feb-2024 and a 52 week low of Rs. 469.05 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 634.35 and Rs. 577.00 respectively. The current market cap of the company is Rs. 17037.21 crore.
The promoters holding in the company stood at 28.17%, while Institutions and Non-Institutions held 35.51% and 36.33% respectively.
Sonata Software has been selected as a strategic managed services partner for a Fortune 500 manufacturer of consumer goods and industrial products. Under the multi-year deal win, the company will deliver a reliable and scalable operating model that will support the company's global business growth and its ongoing digital transformation journey. For more than 50 years, the Fortune 500 company has partnered with customers to develop, design, and manufacture innovative packaging products with an eye toward the circular economy. Over the years, the company has expanded through multiple acquisitions, strengthening its market presence.
In a first-of-its-kind initiative, the client is partnering with Sonata Software to modernize its operations and deliver a homogenous, unified user experience at scale. Powered by AI, the collaboration will leverage industry best practices to drive operational efficiencies and profitable return on investment.
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.
