Sify Technologies Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Internet services provider Sify Technologies (NAS: SIFY) jumped as much as 25.6% overnight on above-average trading volume.
So what: Second-quarter revenue soared 31% year-over-year to $51 million, and EBITDA income jumped a heart-stopping 460%. The Equinix (NAS: EQIX) or InterNAP Network Services (NAS: INAP) of India reported "good traction" for its newfound focus on software services.
Now what: The company is also busy building out its network of data centers and connection points across India, striking while the proverbial iron is hot. Fellow Fool Rick Munarriz recently called Sify out as one of the top stocks to buy in India, far ahead of sell candidates MakeMyTrip (NAS: MMYT) and Rediff.com (NAS: REDF) . This quarter underscores Sify's strength, and investors are taking that message to heart: The stock price has now more than tripled over the last year -- and yet, has a long way to go before eclipsing the 52-week high at $8.54 per share.
Interested in more info on Sify Technologies? Add it to your watchlist.
At the time this article was published Fool contributor Anders Bylund holds no position in any of the companies discussed here. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool is investors writing for investors.
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