Saksoft zooms 30% in two days after Porinju Veliyath buys stakes

Saksoft has surged 16% to Rs 315, extending its Tuesday’s rally on the National Stock Exchange (NSE) after Equity Intelligence India Private Limited bought more than 50,000 shares via open market.

Ace Investor Porinju Veliyath, MD & Portfolio Manager, Equity Intelligence on December 27, 2016, purchased 55,858 equity shares representing 0.54% stake in Saksoft at Rs 267.34 per share on the NSE, the bulk deal data shows. The name of sellers not immediately not ascertained. CLICK HERE FOR MORE DETAILS

In past two trading sessions, the stock zoomed 39% from Rs 226 on Monday, December 26, 2016.

On December 15, Saksoft said that it has signed an agreement to acquire majority stake in Bengaluru based DreamOrbit Softech Private Limited (DreamOrbit).

DreamOrbit is a technology solution consulting firm with a focus on providing information technology (IT) services to the logistics industry.

At 03:09 pm; the stock was up 11% at Rs 301 on the NSE as compared to 0.01% rise in the Nifty 50 index.  The trading volumes on the counter jumped more than three-fold with a combined 995,171 shares changed hands on the NSE and BSE.

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