Datamatics shares zoom 17.5% intraday, hit new high as company advances date of acquisition completion in CDIS

The shares of Datamatics Global Services zoomed 17.5 per cent to touch a new 52-week high of Rs 184.05 per share on the BSE intraday trade on Friday, as the company extended the completion date of the acquisition of a 49.50 per cent stake in Cybercom Datamatics Information Solutions Limited. 

In otherwise subdued market, the shares of this information and technology software products making company soared over 14 per cent to Rs 178.6 per share on the BSE today at around 2:45 pm as compared to 0.18 per cent of S&P BSE Sensex.  

See Zee Business Live TV Streaming Below:

The stocks surged nearly 25 per cent in the last five sessions from 147.6 per share on June 14, while it surged around 43 per cent in the last one month from 128.95 per share to a day’s high level on the BSE today. 

According to the company’s filing to the exchanges, Datatmatics in a board meeting on May 26, 2021, had approved the acquisition and said it will be completed within 20 days. However, it extended the deadline and will now complete in one or more tranches on or before September 30, 2021. 

Datamatics Global Services had a joint venture agreement with Cybercom Group AB through a JV Company that is (CDIS / JVC) and that the company was holding 50.50 per cent shares and Cybercom is holding 49.50 per cent shares in the JVC. 

In the small-cap IT companies, Tanla Platforms is in the green, up over three per cent to Rs 798 per share while other two stocks from the same space — Tata Elxsi and Nucleus Software declined by over two per cent on the BSE today.