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ESDS shares hit upper circuit after seven-session losing streak
ESDS Software Solution’s share price had fallen for seven trading sessions.
On Wednesday, October 7, it rose by the maximum allowed 5% for the day, reaching ₹1,359 on the BSE.
Many more shares than usual were traded.
Some shares had recently become eligible for trading after a lock-in period ended, but that does not mean their owners sold them.
Credit rating agencies had also upgraded the company’s ratings, citing factors including its business profile and recurring revenue.
The company’s latest quarterly profit and revenue were lower than in the previous quarter.
Compared with the same quarter a year earlier, however, both were higher.
The article does not identify one specific reason that caused the share-price rise.
ESDS Software Solution shares rose 5% to ₹1,359 on the BSE on Wednesday, October 7, ending a seven-session losing streak.
Trading volume reached 2,517,952 shares, about 43.16 times one reported average and 4.16 times another.
The rally came after the one-month shareholder lock-in expired on Monday, making about 3 million shares—2% of outstanding shares—eligible to trade; eligibility does not mean they were sold.
India Ratings upgraded ESDS’s long-term bank-loan rating to IND A/Stable and its short-term rating to IND A1; CRISIL had also upgraded its ratings in September.
In Q1 FY27, profit and revenue fell 56% and 20% quarter-on-quarter, respectively, but rose 14% and more than 7% year-on-year.
- Who
- ESDS Software Solution and its shareholders.
- What
- The company’s shares rose 5% to ₹1,359 on the BSE, ending a seven-session losing streak.
- Where
- On the BSE.
- When
- Wednesday, October 7; the article gives no year for this date.
- Why
- The article reports the rally alongside unusually high trading volume, the recent lock-in expiry, and credit-rating upgrades, but does not establish a single cause.
Key facts
- BSE share price
- ₹1,359.00, up 5%
- Trading volume
- 2,517,952 shares
- Shares eligible after lock-in
- About 3 million, or 2% of outstanding shares
- Ind-Ra long-term rating
- Upgraded to IND A/Stable from IND BBB+/Positive
- Ind-Ra short-term rating
- Upgraded to IND A1 from IND A2+
- Q1 FY27 profit
- ₹29.27 crore, down 56% quarter-on-quarter and up 14% year-on-year
- Q1 FY27 revenue
- ₹133.65 crore, down 20% quarter-on-quarter and up more than 7% year-on-year
Sources
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