Mastek has a 'majesco' run
By Research Desk
about 9 years ago
Mastek has been making some quiet news since yesterday when it breached the upper circuit at Rs.216 with some 7 times rise in volumes. And today it hit a new 52-week high at Rs.225 with an over 3 times rise in volumes.
This spike up in the stock price is thanks to the listing of its insurance business subsidiary, Majesco. It got listed at Rs.310 and the market is enthused with this new opportunity of trade.
Majesco is Mastek’s US based subsidiary and it got listed on New York Stock Exchange on 29th June after it successfully completed the merger of Cover-All Technologies Inc with itself. Majesco India holds 69.7% stake in Majesco USA.