Mindtree Consulting Aquiring AztecSoft – A Product Development and Testing Company?
On the buzz of Mindtree Consulting aquiring AztecSoft for around Rs 400 crore, MindTree gained 2.81% to Rs 480 at 10:52 IST on BSE. Aztecsoft is a software engineering services partner for software product companies. As per recent reports, the deal is expected to be concluded in a couple of days.
The stock hit a high of Rs 487 and a low of Rs 477.05 so far during the day. The stock had a 52-week high of Rs 837.80 on 5 May 2007 and a 52-week low of Rs 321.30 on 10 March 2008.
The mid-cap scrip had outperformed the market over the past one month till 30 April 2008, gaining 37.49% compared to the Sensex’s return of 10.63%. It had also outperformed the market in the past one quarter, rising 35.98% compared to Sensex’s decline of 2.05%. The company’s current equity is Rs 37.93 crore. Face value per share is Rs 10.
In April 2008, MindTree signed a multi-year IT offshoring agreement with ArcelorMittal to deliver information technology services to its western European operations. MindTree’s net profit rose 71.22% to Rs 35.63 crore on 9.32% growth in net sales to Rs 203.89 crore in Q4 March 2008 over Q3 December 2007. The company provides business solutions through software development.
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