Sonata Software advances on launching operations in Qatar

Sonata Software is currently trading at Rs. 23.15, up by 0.10 points or 0.43% from its previous closing of Rs. 23.05 on the BSE.

The scrip opened at Rs. 23.20 and has touched a high and low of Rs. 23.35 and Rs. 23.10 respectively. So far 7881 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 52.95 on 04-Jan-2011 and a 52 week low of Rs. 22.50 on 17-Nov-2011.

Last one week high and low of the scrip stood at Rs. 25.50 and Rs. 22.85 respectively. The current market cap of the company is Rs. 242.39 crore.

The promoters holding in the company stood at 43.29% while Institutions and Non-Institutions held 1.28% and 55.43% respectively.

Sonata Software, a leading Indian technology solutions company, has launched its operations in Qatar under the name of Sonata Software (Qatar) WLL, a joint venture (JV) with Mohammad Nasser Abdullah Al MISNAD. Together with local partner Mohammad Nasser Abdullah Al MISNAD, Sonata Software (Qatar) WLL will provide business-focused technologies and solutions to the Qatari enterprises.

Sonata is making strategic investments in building expertise and forging partnerships in Cloud related technologies and Mobility. Along with its product engineering and multi-mobile platform expertise, Sonata will offer these high-end services to companies in Qatar in order to support their critical business functions.

Sonata Software (Qatar) WLL build on a three year relationship with a leading national airline where there is an embedded Sonata team of 50 professionals. Sonata Software has also worked extensively with 16 other enterprises throughout the Gulf region that have similar business models and IT requirements.

The new JV will leverage Sonata’s experience in ERP implementations across industry verticals and partnerships with leaders like SAP, Oracle and Microsoft to partner customers in their ERP implementation. These will involve upgrade and support initiatives on Microsoft DynamicsAX, Oracle eBusiness Suite and SAP.

The JV will operate from Doha, Qatar and will focus on delivering services around ERP implementation and support, e-Commerce, collaboration solutions, BI, mobility and cloud solutions to enterprises in the region. It will target the top 100 enterprises in Qatar, apart from multinationals with a strong presence in the country as well as the public sector.