Mastek hits fresh 52-week high; Stock surges over 35% in four-days
The stock rallied 18% to Rs 377, also its fresh 52-week high on the National Stock Exchange.
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Mastek
Shares in Mastek has rallied 18% to Rs 377, also its fresh 52-week high on the National Stock Exchange (NSE), on back of heavy volumes.
Till 1020 hours, a combined 2.43 million shares changed hands on the counter against an average sub 2 million shares that were traded daily in past two weeks on NSE and BSE.
In past four trading sessions, shares of software services company has surged 39% from Rs 271 on December 12, 2014 after Mastek on Monday said its 100% subsidiary Majesco which is into core insurance systems and services entered into a definitive merger agreement with NYSE-listed Cover-All Technologies Inc. in a 100% stock-for-stock transaction.
On December 15, 2014 Sundaram BNP Paribas Simple Fund bought 197,747 shares of Mastek at Rs 309.98 on the NSE, bulk deal data showed.
Till 1020 hours, a combined 2.43 million shares changed hands on the counter against an average sub 2 million shares that were traded daily in past two weeks on NSE and BSE.
In past four trading sessions, shares of software services company has surged 39% from Rs 271 on December 12, 2014 after Mastek on Monday said its 100% subsidiary Majesco which is into core insurance systems and services entered into a definitive merger agreement with NYSE-listed Cover-All Technologies Inc. in a 100% stock-for-stock transaction.
On December 15, 2014 Sundaram BNP Paribas Simple Fund bought 197,747 shares of Mastek at Rs 309.98 on the NSE, bulk deal data showed.
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First Published: Dec 18 2014 | 10:31 AM IST