Mastek soars as its overseas arm enters into joint venture with The Law Society

04 Jul 2014

Mastek is currently trading at Rs. 200.15, up by 7.15 points or 3.70% from its previous closing of Rs. 193.00 on the BSE.

The scrip opened at Rs. 193.00 and has touched a high and low of Rs. 205.50 and Rs. 191.15 respectively. So far 78668 shares were traded on the counter.

The BSE group 'B ' stock of face value Rs. 5 has touched a 52 week high of Rs. 227.90 on 05-Mar-2014 and a 52 week low of Rs. 103.00 on 02-Aug-2013.

Last one week high and low of the scrip stood at Rs. 205.50 and Rs. 181.00 respectively. The current market cap of the company is Rs. 444.19 crore.

The promoters holding in the company stood at 51.92% while Institutions and Non-Institutions held 22.16% and 25.92% respectively.

Mastek UK, overseas subsidiary of Mastek, has entered into joint venture with The Law Society to deliver the Conveyancing Portal. The Conveyancing Portal is an online service that will help solicitors and licensed Conveyancers to save money and wilt speed up the house buying process for consumers.

In its first phase, the system will allow professionals to better communicate with each other, clients and other parties. Satisfy due diligence obligations more quickly and at lower cost and facilitate the conveyance of residential property through established protocols. Mastek UK was chosen as partner in a joint venture following a rigorous research, development and negotiation process.

The Law Society is independent professional body that works globally to support and represent its member promoting the highest professional standards and the rule of Law, while Mastek is a high-end provider of vertically-focused enterprise technology solutions and platforms that unleash the optimum potential of its clients' business. Its vertical focus includes insurance (Life, Pensions and General), Government/Public Sector, and Financial Services sectors.

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Puchho Befikar
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