Saksoft Limited (590051) Decline -1.4% on May 23

May 23, 2018 - By Hazel Jackson

Shares of Saksoft Limited (BOM:590051) last traded at 240, representing a move of -1.4%, or -3.4 per share, on volume of 1 shares. After opening the trading day at 240, shares of Saksoft Limited traded in a close range. Saksoft Limited currently has a total float of 10.00 million shares and on average sees 3,282 shares exchange hands each day. The stock now has a 52-week low of 214.95 and high of 276.

BSE & NSE: Asia’s Leading Stock Exchanges

India is one of the reasons that the Asian economy is immensely growing today. While its corporate sector’ representing about 14% of the national gross domestic product (GDP)’ is far smaller than that of the US’ representing about 70% of the national GDP, India has all the capabilities to remain as competitive as any other economy.

What Drives India’s Economy?

A nation’s equity market is very telling of its own success. In India, it is the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) that do the telling of the country’s economic prowess.

The BSE is the world’s 11th biggest stock exchange and also one of the fastest stock exchanges. As of January 23, 2015, it has a total market capitalization of $1.70 trillion. The BSE has a speed of six microseconds.

The SENSEX 30 is the benchmark index of the BSE. It weighs the 30 best-performing and most actively traded companies on the BSE with a base value of 100. Here, stocks are measured based on depth, floating-stock-adjustment depth, industry representation, liquidity, and market capitalization.

On the other hand, the NSE is owned and operated by the Indian Index Services and Products (IISP), supporting 230,000 terminals nationwide. Saksoft Limited is a stock traded on the Indian stock exchange.

The NIFTY is the benchmark index of the NSE. It weighs the 50 best-performing and most actively traded stocks across 24 sectors on the NSE with a base value of 1,000. Consequently, it is a broader representation of the Indian corporate sector than the SENSEX 30.

Historical Feats

The BSE was established in 1875, bringing Asia its first stock exchange. It is also the first entity to be granted with a permanent acknowledgement under India’s Securities Contract Regulation Act of 1956.

On July 25, 1990, the BSE first reached a four-digit figure. On October 11, 1999, upon the victory of the Bhartiya Janta Party in the General Elections, it first reached the 5,000 mark. On February 6, 2006, it first reached the 10,000 mark. On December 11, 2007, shortly before the 2008 Global Financial Crisis, the BSE first reached the 20,000 mark. On January 21 and 22, 2008, it first lost more than 2,000 points in just two consecutive days.

On March 4, 2015, the BSE first reached the 30,000 mark. On August 24, 2015, it had once again recorded one of its worst sessions, losing 1,741 points after the devaluation of the Yuan. Chinese stocks had also fallen nearly 9% during that day, shaking the entire Asian market. Saksoft Limited has relatively good liquidity.

Meanwhile, the NSE was established in 1992 as the first stock exchange in India with a fully electronic trading system. It paved way to the Indian equity market eventually embracing an electronic stock exchange platform, which is faster and more convenient’ thereby entirely improving trade and commerce in the country.

Evidently, the BSE and the NSE are two of the most successful stock exchanges in the world. It goes without saying that investing in India is associated with promising returns. Professional analysts might be interested how this will affect Saksoft Limited.

Saksoft Limited, an information technology company, provides digital transformation solutions in India, the United Kingdom, the United States, and Singapore. The company has market cap of $2.40 billion. The firm offers application services in the areas of custom application development, Internet of Things, mobile application development, and cloud migration. It has a 11.86 P/E ratio. It also provides information management services, including data warehousing solutions, such as information analysis, data mart, data propagation, business data warehouse, data acquisition, data source, systems management, and metadata management; business intelligence solutions comprising data management, multi-dimensional aggregation and allocation, data tagging and standardization, extract-transfer-load process, centralized repositories or data warehouse, real-time reporting with analytical alerts, data mart, key performance indicators optimization, version control and process management, and risk management and insights; and analytics solutions, which include advanced analytics, fraud and security intelligence, in-memory analytics, big data intelligence, customer intelligence, and data management and insight.

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