Mastek gains after foreign fund buying

Mastek rose 1.09% to Rs 199 at 10:32 IST on BSE after a foreign fund bought 0.5% stake in the company on Friday, 14 February 2014.

Meanwhile, the BSE Sensex was up 45.43 points, or 0.22%, to 20,412.25

On BSE, so far 16,739 shares were traded in the counter, compared with an average volume of 1.17 lakh shares in the past one quarter.

The stock hit a high of Rs 201.60 and a low of Rs 195.50 so far during the day. The stock hit a 52-week high of Rs 213.85 on 9 January 2014. The stock hit a 52-week low of Rs 103 on 2 August 2013.

The stock had outperformed the market over the past one month till 14 February 2014, rising 7.39% compared with the Sensex's 3.17% fall. The scrip also outperformed the market in past one quarter, gaining 29.38% as against Sensex's 0.16% decline.

The small-cap company has an equity capital of Rs 12.32 crore. Face value per share is Rs 5.

Merrill Lynch Capital Markets Espana bought 1.24 lakh shares of Mastek at Rs 197.79 per share in a bulk deal on BSE on Friday, 14 February 2014.

Mastek's net profit rose 21.86% to Rs 18.34 crore on 1.6% increase in total income to Rs 242.35 crore in Q3 December 2013 over Q2 September 2013.

Mastek is a leading IT player with global operations providing enterprise solutions to insurance, government, and financial services organizations worldwide.

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