Multibagger stock: Birlasoft trades at lifetime high
The stock of Birlasoft touched its lifetime high of Rs 204.80 per share during Wednesday's trading session. Birlasoft sizzled by more than 11 per cent during Wednesday’s trading session. It is gaining momentum in line with the IT sector stocks.
BSE IT index is up by nearly 1 per cent in today's session. IT index outperformed Sensex in 2020 and is up by 26.59 per cent on a YTD basis.
Birlasoft is up by 181 per cent on a YTD basis and in one year, it went up by 178 per cent thus, outperforming the trending IT sector index.
The dividend yield for Birlasoft is 1.12 per cent while the stock's P/E is 32.77. The market cap is Rs 4,964 crore as on September 15, 2020. The RoE is 11.33 per cent for the last three years. The sales growth recorded is 3.48 per cent (CAGR) over the past three years.
Recently, Birlasoft announced a global strategic cloud alliance with Microsoft to help its clients accelerate their digital journey. With this collaboration, Birlasoft is strategically positioned to support its enterprise clients with their cloud transformation needs, right from infrastructure to business applications.
In an announcement on the bourses, the company further stated that in August, it has plans to scale its current Microsoft cloud business to USD 100 million. Building on the current collaboration, Birlasoft will focus on delivering end-to-end services on Microsoft Azure, Microsoft 365, and Microsoft Dynamics 365, to its clients.
Birlasoft is engaged in software development, global IT consulting and provides product engineering solutions to its clients, predominantly in automotive and transportation, manufacturing & energy as well as utility verticals.