Glodyne Technoserve Ltd - BUY & Accumulate

CMP : 499

Glodyne Technoserve Limited provides business process outsourcing and information technology services to a range of industries. The Company provides software services, managed services, and system integration services to the financial, education, manufacturing, telecom, and other industries.

Glodyne Technoserve is a great buy in the IT mid-cap space. Their growth has been rock solid in terms of Revenues, Profit after Tax and NPM. Its currently trading at fair P/E levels of 19.5 and looks attractive in the long run. Although its trading close to 52 wk highs - Buy, Accumulate on every fall of 5% and hold forever.

Glodyne spurts as promoters increase holding:
Glodyne Technoserve hits 10% upper circuit, touching the day's high at Rs710.20, after its promoters have increased their holding in the company by acquiring 4.33 lakh equity shares from the open market purchase.

Anand Sarnnaik, CEO of Glodyne Technoserve, informed CNBC-TV18 that the company has recently bought about 4 lakh 32 thousand of its own shares from the open market. “This shows the confidence of that company has in its fundamentals,” he said. The promoter holding in the company is now at 60.7% from the earlier 58.8%.

Time to Buy Guys, Buy fresh or accumulate ! Dont miss it ...