Mastek rallies ahead of FCCB issue

DALAL STREET SPIKES

Mastek gained nearly 7.2 per cent from its previous close of Rs 262.50 to Rs 281.35 after touching an intraday high of Rs 284.80. Volumes traded were low at about 30,500 shares.

The stock surged ahead of the company's board meeting scheduled on September 5, to consider raising money via foreign currency convertible bonds (FCCBs) or other means.

Mastek also reportedly won a contract to deploy electronic toll collection systems in Mumbai.