Asia economy that too Indian economy is the 4th in the world which is the fastest growing economy in the world. So as a technology of IT, it has the premium coz India provides the world minimum of 33% of IT professionals around the world and it also gives 80% of IT products Development. So it just took few years for Mauritius to understand that India is growing in IT and the investment opportunities do exist there.
After the takeover of the telephone operator in Vanuatu, a small market of 65 000 inhabitants, the incumbent Mauritius has purchased shares in an Indian company, Sonata Software.
MT bought 2.36 million shares at Rs 25.4 unit for an amount of Rs 34 million (60 million Indian). This deal is the result of the sale of shares of a shareholder of Sonata Software.
The Indian company is listed on the Bombay Stock Exchange. Sonata Software specializes in IT services and technology. Founded in 1986, the company has 2800 employees, mostly young graduates in information technology. However, the price of the company at the Indian stock market is not the best.
Orange Mauritius Investments picked up 2.24% stake in Sonata Software on Thursday at BSE. It bought 2.36 million shares of the company at Rs 25.4 a share amounting to Rs 60 million.
On the other hand, Bhupati Investments and Finance sold 2.24% stake in Sonata Software on Thursday. It sold 2.36 million shares of the company at Rs 25.4 a share amounting to Rs 60 million.
Shares of the company declined Rs 0.2, or 0.79%, to trade at Rs 25.00. The total volume of shares traded was 6,453 at the BSE (9.33 a.m., Friday).
Shares of Sonata Software are trading at Rs 25.00, down Rs 0.2, or 0.79% at the Bombay Stock Exchange (BSE) on Friday at 9:34 a.m.
The scrip has touched an intra-day high of Rs 25.70 and low of Rs 24.60. The total volume of shares traded at the BSE is 6,453.
In the earlier session, the shares climbed 0.6%, or Rs 0.15, at Rs 25.20.
Currently, the stock is trading down 52.79% from its 52-week high of Rs 52.95 and above 11.11% over the 52-week low of Rs 22.50.
[source from: ww.myiris.com]
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