Stock of this digital transformation solutions provider soars 33% in 2 days
Thus far in the current calendar year 2023, the stock price of Saksoft has nearly doubled or zoomed 99 per cent, as compared to 2 per cent decline in the S&P BSE Sensex.
The company issued guidance for the first time in its prospects. Based on the robustness of order flow and increase in spending within the verticals of the company’s presence, the company announced a revenue guidance of $100 million by 2025.
The company in its FY22 annual report said that it will continue to build enterprise applications for port operators and ship management companies. The company will aid public sector agencies to transform digitally and upload their data on commercial cloud (as per the government mandate).
The driver of long-term growth for industry is the structural shift within the technology market, leading to growing primacy of IT services. Robotics, artificial intelligence, cybersecurity, Internet of Things (IoT), among others is expected to be the key technology focus areas in the medium term. While the IT spending forecasts remain positive, a slowdown in the US and UK economy would impact the IT spending of the clients in these geographies. The company’s ability to add and diversify its customer base while maintaining stable margins remains key to the prospects of the company, according to CARE Ratings
