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The local stock market is in turmoil, but shares of Sonata Software are rocketing. Shares of IT services company Sonata Software rose over 5 percent on Thursday to Rs. 1101.50 was reached. The IT company’s stock closed at Rs 1042.40 on Wednesday. The rise in Sonata Software shares comes after good quarterly results and announcement of bonus shares and dividends to investors.
The company will issue 1 bonus share for every share
Sonata Software is gifting bonus shares to its investors. The company has announced bonus shares in the ratio of 1:1. That means the IT company will give 1 bonus share for every share. Sonata Software has not yet fixed the record date of bonus shares. Sonata Software had earlier issued bonus shares in the ratio of 1:3 in September 2022. That is, the company gave 1 bonus share for every 3 shares.
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700% dividend declared, dividend record date is 7th November.
Sonata Software’s board has announced an interim dividend of 700 per cent (Rs 7 per share) for the financial year 2023-24. The company has fixed the record date of interim dividend as 7 November 2023. In the September quarter of the current financial year, Sonata Software posted Rs. 124.2 crores has made a consolidated profit. At the same time, the company’s revenue for the September 2023 quarter was Rs 1912.6 crore. Sonata Software shares hit a 52-week high of Rs. is 1156. At the same time, the company’s shares hit a 52-week low of Rs 510.
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