Sonata Software Shares Bounce Back In Green: Here's Why

Sonata Software shares were back in the green on Wednesday as the company announced bagging its largest-ever contract.

What Happened: The company on Wednesday announced signing its largest-ever contract with a total contract value (TCV) of $160 million (₹1,322 crore) for 10 years. The IT services company informed that the client is a US-based consumer retail company. It “will be managing end-to-end IT modernisation and transformation for the client,” the company added in a regulatory filing.

See Also: TCS Shares Slump After Analyst Maintains ‘Sell’ Rating

Shares of the company have been on a surge since the company announced the acquisition of US-based Quant Systems last month. Last week, the company had informed that it has completed the acquisition. Shares of the company have surged over 20% in the past month.

Price Action: Sonata Software shares were up 3.31% to trade at ₹829 as the markets opened for business on Monday.

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