Majesco sizzles after new order win

Majesco gained 2.13% to Rs 477 at 09:43 IST on BSE after the company said that NTUC Income has selected Majesco Distribution Management and Majesco Digital Solutions.

The announcement was made after market hours yesterday, 20 June 2018.

Meanwhile, the S&P BSE Sensex was down 6.34 points, or 0.02% to 35,540.99.

On the BSE, 2,749 shares were traded in the counter so far compared with average daily volumes of 6,254 shares in the past two weeks. The stock had hit a high of Rs 481 and a low of Rs 476 so far during the day. The stock hit a 52-week high of Rs 603.95 on 24 January 2018. The stock hit a 52-week low of Rs 300 on 10 July 2017.

Majesco announced that NTUC Income (Income), a leading insurance company and the only insurance co-operative in Singapore, has selected the Majesco Distribution Management and Majesco Digital Solutions to optimize management of its sales and distribution channels across the insurance business.

The Majesco Distribution Management platform and an agent self-service portal based on Majesco Digital Solutions will enable Income's financial planners to enhance and manage their customer relationships while providing a dashboard for them and their managers to view real-time sales, performance, compensation and rewards information across the insurance business.

On a consolidated basis, Majesco reported net profit of Rs 10.09 crore in Q4 March 2018 compared with net loss of Rs 2.59 crore in Q4 March 2017. Net sales rose 14.32% to Rs 216.69 crore in Q4 March 2018 over Q4 March 2017.

Majesco is a global provider of core insurance software and consulting services. The company's solutions include policy management, new business / underwriting, rating, billing, claims management, distribution management, BI/ analytics, predictive modeling, digital platform with mobile and portal, testing services, cloud services, bureau and content services, transformation services, consulting services and more.

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