ESDS Software Solution stock up 217% from issue, rebounds 5%
ESDS Software Solution's stock just made a strong comeback, rising 5% to ₹1,359 after a rough two-week slide.
Even with recent drops, the share price is still up an impressive 217% from its original ₹429 issue price.
The turnaround comes as investors get excited about the company's upgraded ratings and steady growth in cloud services.
ESDS sees rating upgrades, volume surge
The big boost came after India Ratings and CRISIL both upgraded ESDS's credit ratings in September, pointing to better business diversity and finances.
Trading volume also exploded, more than 2.5 million shares changed hands (way above the usual average), especially as a lock-in period ended and around 3 million shares became eligible for trading.
All this, plus solid cloud revenue growth, has brought fresh attention from investors looking for tech sector wins.