Thursday, October 26, 2006
Entered a new stock - Sonata Software.
Reasons to buy
Market cap - 360crores ~ 85mn USD
strong promoters - Raheja group
strong U.S. presence
strong presence in the indian market
strong partnerships with tier 1 vendors - oracle, msft, mercury
CMM level 5 - prime candidate for a buyer
closely held by few large shareholder groups - promoters, management, ESOP making strategic moves easy.
just acquired a large european IT company - 50.1% making their numbers a part of the parent
good cash flow - quarterly profit of about 10 crores - 2.5mn USD or about 10mn USD a year excluding growth.
I'm up 50% on the rest of my portfolio from the past 6 months (excluding Astra Microwave which has not yet moved).
Lets see how Sonata contributes.
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