By Malvika Gurung
Investing.com — Shares of the IT services provider Sonata Software (NS:) rallied almost 13% on Thursday and zoomed 9.13% to Rs 584.9 apiece at the time of writing, as they began trading ex-bonus in the session ahead of its record date for bonus issue.
The software company had announced in a BSE filing that its board considered and approved a bonus issue of shares in the ratio of 1:3 to the shareholders as of the record date.
While announcing its earnings results for the June quarter, Sonata Software announced issuing 1 fresh equity share for every 3 existing shares held by the shareholders without any additional cost.
The bonus issue of equity shares will be subject to approval by the Shareholders through Postal Ballot, and any other applicable statutory and regulatory approvals, the company stated in the filing.
The record date for the issuance of bonus shares was revised last week to Sept 10, 2022.
consolidated revenue jumped 40% YoY and 22% sequentially to Rs 1,778.9 crore in the period.
Its consolidated EBITDA advanced 24% YoY and 4% QoQ to Rs 159.8 crore in the quarter under focus.
The IT scrip has tanked 8% so far in the year, far underperforming the headline index , which has gained 0.59% in the period.