Sundaram Bnp Paribas Mutual Fund has picked 1.74% stake in 8k Miles Software Services, a leading cloud computing company, for Rs 58.09 million on Wednesday. Sundaram BNP Paribas MF purchased 175000 shares at a price of Rs 331.95.

On the other hand, Aruna Srinivasan Iyer sold 1.45% stake in 8k Miles for Rs 48.54 million. Iyer sold 146,000 shares at a price of Rs 332.46.
 
Recently the company reported steep decline in revenues to Rs 25 million for the June quarter from Rs 65.77 million previous year for same period. Net profit dropped to Rs 1.24 million for the June quarter from Rs 11.53 in the previous year period.

Shares of the company gained Rs 35.35, or 9.99%, to settle at Rs 389.20. The total volume of shares traded was 73,939 at the BSE (Thursday).