Sonata Software News Today

231 smallcaps suffer double-digit losses as investors sell in May. Will they come back in June? The stock market cliche of sell in May and go away proved true this year amid general election uncertainties. Concerns over BJPs election performance and significant volatility affected investor sentiments. Benchmark indices like Sensex and Nifty experienced slight declines.

Small caps may be volatile, but they are also a key source of alpha in the Indian context

Phaneesh Murthy helped iGATE acquire Patni Computer Systems, former employer of Narayana Murthy.

Despite a flat performance over the last week, the Indian market has shown robust growth, soaring by 42% over the past year with earnings expected to grow by 17% annually. In such an optimistic environment, companies with high insider ownership can be particularly compelling as this often reflects confidence from those who know the business best.

Many other mid-cap IT firms are also eyeing an entry into the billion-dollar club in the coming quarters while the above-mentioned four are chasing the next target of $2 billion, industry observers said. Firms such as Happiest Minds Technologies, Cyient, ITC Infotech and Birlasoft announced their billion-dollar revenue target recently.

Happy Wednesday! The countrys central bank wants more rural users to log into Unified Payments Interface (UPI). This and more in todays ETtech Morning Dispatch.

Stocks to watch: Shares of firms like PB Fintech, HPCL, Godrej Consumer, LTIMindtree, Lupin, Gujarat Gas, and others will be in focus on Tuesday's trade.

Gujarat Gas Stock: In its Q4 results it reported 85.9 per cent year-on-year growth in standalone net profit to Rs 409.5 crore with a 5.2 per cent increase in revenue to Rs 4,134 crore for the March quarter.

Based on the OI percentage, 60 stocks saw long unwinding, which included REC, Crompton Greaves Consumer Electricals, BHEL, Dabur India, and Coal India.

Phaneesh Murthy is credited for restructuring iGATE and helping the company to acquire Patni Computer Systems for 1.22 billion dollars. Patni Computer Systems is the former employer of Narayana Murthy.