Mastek gains as its US arm inks agreements with four insurance carriers in North America
Date: 27-04-2015Mastek is currently trading at Rs 390.40, up by 1.10 points or 0.28% from its previous closing of Rs. 389.30 on the BSE.
The scrip opened at Rs 392.20 and has touched a high and low of Rs 397.00 and Rs 374.70 respectively. So far 74945 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs 513.50 on 09-Mar-2015 and a 52 week low of Rs. 160.20 on 12-May-2014.
Last one week high and low of the scrip stood at Rs. 446.80 and Rs. 385.00 respectively. The current market cap of the company is Rs. 881.74 crore.
The promoters holding in the company stood at 51.03% while Institutions and Non-Institutions held 19.62% and 29.35% respectively.
Mastek’s subsidiary Majesco, USA (formerly known as MajescoMastek) has signed agreements with four insurance carriers in North America in the last one month. Continuing the momentum of growing its customer base from three carriers in 2006 to over 120 in 2015, Majesco continues to grow its customer base while focusing on expanding the insurance technology business globally.
Moreover, the company’s three customers have expanded their relationship and signed up for additional solutions. These agreements include specialized solutions and services in digital, data and quality assurance domain. Majesco also delivered on its commitments to five customers who went into production in the last 12 months, including one end-to-end suite implementation that went live in under nine months.
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.