20% Upper Circuit One Day, Profit Booking the Next: Sonata Software Sees Sharp Swings

Shares of $SONATSOFTW witnessed sharp volatility after surging 20% and hitting the upper circuit on Tuesday, driven by a major institutional investment. Polunin Capital Partners-managed Polunin Emerging Markets Small Cap Fund acquired 19.2 lakh shares worth ₹56.7 crore at ₹295.12 per share, boosting investor sentiment. However, the rally lost steam on Wednesday as profit booking emerged, dragging the stock down by up to 3% in morning trade. The movement highlights how stocks can witness short-term swings even after strong buying interest from marquee institutional investors. Disclaimer: Investments in securities are subject to market risk. This is for educational purposes only. Investors must verify information before investing and consider their financial position & risk profile.