Shares of BirlaSoft bounce on the bourses after hitting a fresh 52-week low in the previous session

Shares of BirlaSoft bounce on the bourses after hitting a fresh 52-week low in the previous session

Indian Market
by 5paisa Research Team Last Updated: 2022-10-20T14:55:11+05:30

Company has earlier informed the exchanges about a block deal trade 

The shares of BirlaSoft Ltd are buzzing on the bourses today. As of 2.20 pm, the shares of the company are trading higher by 3.80%. With this, the company’s shares are one of the top gainers on the bourses from Group A. Meanwhile, the frontline index S&P BSE Sensex is down by 0.11%. 

This surge in share price comes after the company logged a fresh 52-week low on the bourses on Wednesday. 

Looking at the recent developments, on 17 October, the company informed the exchanges about a block deal trade. As per the data on BSE, iShares Core MSCI Emerging Markets ETF purchased 4,00,593 shares of BirlaSoft at Rs 282.80 from iShares Core Emerging Markets Mauritius. Similarly, IShares MSCI India Small-cap ETF bought 58,576 shares from iShares India SC Mauritius Company. 

On the same day, the company announced a partnership with Coursera, one of the largest online learning platforms in the world, to further enhance the established technical skills of more than 12,500 employees, broadening their knowledge base. 

Birlasoft Ltd, a part of C K Birla Group, provides various digital and IT-related services to its client in the areas of software development, package implementation, application management as well as the testing domain, enterprise and digital technologies. In the past 1 year, the stock has rallied by 115% on the bourses. 

The company caters to the needs of various sectors such as automotive, banking, capital markets and insurance, to name a few. Also, it has made strategic alliances with Oracle, JD Edwards, SAP, Infor and Microsoft, which gives the company a competitive edge over its peers while bagging large or strategic deals. 

Today, the scrip of BirlaSoft opened at Rs 273.50 and has touched a high and low of Rs 284 and Rs 270.20, respectively. So far 1,18,334 shares have been traded on the bourses. The stock has a 52-week high and low of Rs 585.85 and Rs 269, respectively on BSE.

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