Mastek hits 52-week high

Mastek surged 6.19% to Rs 381 at 10:54 IST on BSE, with the stock extending Wednesday's rally triggered by the company reporting strong Q1 June 2017 earnings.

Meanwhile, the S&P BSE Sensex was up 20.25 points or 0.06% at 31,975.60. The S&P BSE Small-Cap index rose 53.85 points or 0.34% at 16,028.42.

On the BSE, 5.18 lakh shares were traded on the counter so far as against the average daily volumes of 1.15 lakh shares in the past one quarter. The stock had hit a high of Rs 397.50 so far during the day, which is a 52-week high. The stock hit a low of Rs 366.50 so far during the day. The stock had hit a 52-week low of Rs 108.65 on 30 September 2016.

The stock had outperformed the market over the past one month till 19 July 2017, advancing 29.09% compared with the Sensex's 2.06% rise. The stock had also outperformed the market over the past one quarter, surging 59.64% as against the Sensex's 8.93% rise. The scrip had also outperformed the market over the past one year, spurting 169.67% as against the Sensex's 15% rise.

The small-cap company has equity capital of Rs 11.69 crore. Face value per share is Rs 5.

Shares of Mastek have rallied 27.42% in two trading sessions to its ruling market price, from its close of Rs 299 on 18 July 2017 after the company announced strong Q1 June 2017 results during market hours yesterday, 19 July 2017. The stock had rallied by the maximum permissible level of 20% to settle at Rs 358.80 yesterday, 19 July 2017.

Mastek's consolidated net profit rose 39.88% to Rs 14.66 crore on 2.51% growth in total revenue to Rs 188 crore in Q1 June 2017 over Q4 March 2017.

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

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