Sonata Software zooms 13% as stock trades ex-bonus

New Delhi: Shares of zoomed as much as 13 per cent during the early trade on Thursday as the smallcap IT service provider traded ex-bonus.

The software and consulting firm had announced the issue of bonus shares in 1:3 ratio, which means that an eligible shareholder will get one share for every three shares of the company held as of the record date.

The company has fixed September 10, 2022, as the record date to determine the eligibility for the issuance of bonus shares. Investors having the delivery of the stock in the demat account as of the record date will be eligible for bonus shares.

The scrip rallied about 13 per cent to Rs 602.10 on Thursday, before giving up some gains to trade at Rs 590.10 at 10.05 am. The scrip had settled at Rs 536.05 on Wednesday.

Sonata Software is a smallcap IT service provider specializing in platform-based digital transformation including IoT, artificial intelligence, machine learning, robotic process automation, chatbots, blockchain and cyber security.