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IT stock jumps 5% after it receives multi-million dollar modernization deal in Australia

IT stock secured a multi-million-dollar modernization deal in APAC, integrating Dynamics AX into D365 across 13 countries, emphasizing efficiency, growth, and leadership in technology solutions.
IT stock lands multi-million-dollar deal in APAC, driving efficiency and growth across 13 countries with D365 integration.
IT stock lands multi-million-dollar deal in APAC, driving efficiency and growth across 13 countries with D365 integration.

Introduction:

IT stock secured a multi-million-dollar modernization deal in APAC, spanning 13 countries, integrating Dynamics AX into D365 Finance and Supply Chain. This project highlights efficiency, decision-making, and growth, showcasing the company’s leadership in modernization and technology solutions.

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Share Price movement of Sonata Software Ltd:

On November 27, 2024, Sonata Software Ltd (NSE: SONATSOFTW) opened at ₹597.00, hitting an intraday high of ₹631.80 and a low of ₹589.05. The stock is currently trading at ₹626.30, reflecting a 4.74% rise, with a market capitalization of ₹17,563.01 crore.

Sonata Software Order:

Sonata Software announced securing a multi-million-dollar modernization deal with a global access solutions leader in APAC. This project covers 13 countries, integrating Dynamics AX 2012 R3 into D365 Finance and Supply Chain Management, boosting operational efficiency and engagement.

The deal involves data migration, implementing over 260 Power BI reports, and optimizing warehousing and planning. Pilot programs in Australia, New Zealand, and China will lay the groundwork for leveraging Microsoft Fabric to enhance data-driven decision-making.

This milestone highlights Sonata’s strong Australian presence, bolstered by its new Centre of Excellence for generative AI and data solutions. The company’s strategic focus on modernization drives growth in retail and manufacturing sectors, reinforcing its leadership in Modernization Engineering.

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Recent news About Sonata Software Ltd:

Sonata Software Ltd recently launched a Centre of Excellence in collaboration with the Victorian Government in Australia. This initiative focuses on addressing the growing demand for generative AI and advanced data solutions, reinforcing Sonata’s presence in the global technology market.

Ace investor holding of Sonata Software Ltd:

Hemendra M Kothari holds a significant 9.13% stake in Sonata Software Ltd, owning 25,599,986 shares valued at ₹1,608.2 crore. This highlights his substantial investment in the IT sector and confidence in the company’s growth trajectory.

Stock performance of Sonata Software Ltd for Period of 1 week, 6 months and 1 year:

Sonata Software Ltd exhibited impressive stock performance over the last week, with a 14.8% increase. Over six months, the stock rose by 21.9%, while the one-year period showed a modest return of 0.22%, reflecting steady long-term growth.

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Shareholding pattern of Sonata Software Ltd:

All values in %Sep-24Jun-24Mar-24
Promoters28.1728.1728.17
FII12.1312.4113.94
DII23.3721.5619.05
Retail & others36.3237.8538.82
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About Sonata Software Ltd:

Sonata Software Ltd, headquartered in Bengaluru, India, is a leading IT services and solutions provider specializing in Modernization Engineering. With a strong global presence, it serves sectors like retail, manufacturing, and BFSI, leveraging advanced technologies like generative AI and cloud.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.

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