Megasoft Limited has informed the National Stock Exchange (NSE) about the Unaudited Financial Results for the quarter ended September 30, 2007. The company has registered a growth of 73 % on year-on-year basis. The company acquired NASDAQ listed BCGI Inc. during this quarter. The meeting of the Board of the Directors of the Company was held on October 18, 2007.

Megasoft’s statement to the exchange said, “The Company issued /allotted 8,000 1.5% Foreign Currency Convertible Bonds ("FCCB") of USD 1,000 each on 16 September 2005 aggregating to USD 8 million and are convertible into equity shares on or before 17 September 2008 at conversion price of Rs. 115 per equity share. FCCB have been listed on Luxembourg Stock Exchange on 22 September 2005. FCCB aggregating to USD 6 million have been converted into equity shares during 2006 on exercise of the conversion option.”

The company has shown a decent growth in previous quarters. The stock seems under-valued at current prices. Technical experts feel that the stock may see a re-rating in the weeks to come. The stock is hovering around its 52-week low of Rs 89.

The Stock ended the day at Rs 104.80 up by 4.07% on Friday. Megasoft has seen a 52-week high of 162.50 and low of Rs 89.