It's a good day for construction firms at Dalal street

Shares of Sonata Software, a mid-sized construction firm, traded near 3-month highs after the company announced a modest gain in its quarterly earnings.

Sonata said its first quarter Net Profit was flat at 23.6 crore rupees compared with 22.4 crore rupees in the same quarter a year ago. Sales during April-June rose 18 percent to 118 crore rupees from 101 crore rupees in the year ago period.

Sonata jumped 9.2 percent, or 14.50 rupees, to 171.95, its highest since May 20th, on the National Stock Exchange, where 22.1 lakh shares were traded by 3.20 pm compared with the 5-day average of 3.95 lakh shares.

Sonata's market capitalisation has jumped 138 percent in the past one year to 1,723 crore rupees as investors preferred mid cap software companies in comparison to their frontline peers.

(Image credits: corporateblog.progress)