Cybertech Share Price Surges 6% in the Morning Trade

CyberTech Systems and Software Ltd have received Refund of Rs.6.97 Crores on November 28, 2016 from the Income Tax Department towards refund of penalty previously paid by the Company. This refund money comprises of Interest on Refund of Income tax to the adjustment of Rs. 1.85 Crores.

In this relation, the above refund and the interest on refund are on account of provisional relief which is subject to the pending order of the High Court while passing the Final Assessment Order.

Owing to the relief, Cybertech share price surged approximately 6 per cent. The stock opened at Rs. 77 against its previous closing at Rs. 74.60. Within the next thirty minutes, around 16,113 shares are traded in the counter with a traded value of Rs. 12.61 lakh, as per the National Stock Exchange (NSE).

Cybertech Systems & Software Ltd is a Small Cap company incorporated in the year 1995, operating in Information Technology sector. In the September quarter, CyberTech’s EPS has grown to 1.32 from 0.52 in the June quarterthis financial year and 0.18 in the September quarter last year. The company has also registered a growth in its Profir After Tax (PAT) to Rs. 3.56 crores from Rs. 1.40 crores in the June quarter this year and Rs. 0.48 crores in the September quarter last year. However, the company has posted lower revenue this quarter in compared to the June quarter, but it is higher as compared to the September quarter of the last financial year.

At 9:58 Am, CyberTech share price was trading at Rs. 78.50, up by 5.23 per cent.

Cybertech  is identified by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE.  Cybertech is fundamentally strong and is secure for investment, as per Dynamic analysts.To know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Cybertech share price history.