Shares of Sonata Software touched their fresh 52-week high of Rs 753 on Monday surging nearly 11 per cent on the BSE on the intraday basis. The stock fell short of its all-time high of Rs 773 per cent which it hit on October 20, 2021.

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Today, this small-cap IT services company was trading with high volumes at Rs 732 per share at the time of filing this story. Sonata Software breached its earlier 52-week high of Rs 689.95 which it touched on Friday, February 16, 2023.

Share Price History

Sonata shares in the last one year have gained nearly 35 per cent as compared to a nearly six per cent rise in the S&P BSE Sensex.

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The analyst said that the upgrades in Microsoft Dynamics and tapping Fortune 1,000 clients in the medium to large category bodes well for revenue growth.

Sonata Software is a net debt-free company and has a healthy double-digit return ratio with a return on capital employed (RoCE) of more than 30 per cent.

Technical View

The stock has formed an ascending triangle pattern with higher bottom and a triple top around 600 levels, according to Mugilan K, a technical analyst at Chola Wealth Direct.

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The stock is expected to test levels around Rs 800 levels, the Chola Wealth analyst said. he sees an 8 per cent upside from the current levels.

About Sonata Software

Sonata Software, which has a market capitalisation of Rs 10,470.36 crore, offers IT services to travel, retail, agri & commodities, manufacturing, and software vendors.

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