ESDS Software Solutions share price continued its downward trajectory, hitting the 5% lower circuit for the second consecutive session on Thursday, 17 September. The stock opened at ₹1,646.85 today, as compared to the previous close of ₹1,733.50 on Wednesday.
The stock witnessed intense selling pressure as investors rushed to book profits after rising sharply following a bumper listing. However, the stock is still trading 117% higher from its listing price of ₹757.
ESDS Software Solution shares made their debut on the NSE at ₹757 apiece earlier this month, marking a 76.46% premium over the issue price. The company’s ₹720-crore IPO was offered in the price band of ₹408–429 per share.
The stock had hit back-to-back upper circuits over the past few sessions. The circuit limit was initially reduced from 20% to 10% and has now been further lowered to 5%.
At ₹429 per share, ESDS Software Solutions’ IPO issue price, the stock has surged nearly 283% as of 17 September.
ESDS recent business update
In an exchange filing dated 14 September, ESDS Software Solutions said it has launched Swaraj Sethu, an enterprise software delivery and security platform.
The recent launch is expected to complement Swaraj Cloud, ESDS’s AI Autonomous Architect Cloud Platform, and support various stages of the software development and delivery lifecycle.
Swaraj Sethu, the company’s Unified DevSecOps Platform, is designed to bring the software delivery lifecycle onto a single, secure and governed workspace. The platform aims to give enterprises greater control over their applications by consolidating multiple software development and management functions in one place.
The unified workspace will integrate capabilities spanning development, deployment, infrastructure, monitoring and security. According to the company’s press release, Swaraj Sethu will offer features such as multi-tenancy, granular role-based access, context switching across tenants and environments, single sign-on, secrets management and comprehensive audit trails.
“With more than 52 services across the ecosystem, we have created an integrated, indigenous technology environment that gives organisations greater freedom to innovate while retaining greater control over their digital operations,” stated Komal Somani, Whole Time Director, ESDS Software Solution Limited.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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