Majesco gained 2.63% to Rs 644 at 10:40 IST on BSE after the company announced that Maryland Auto Insurance successfully implemented Majesco P&C Suite and Majesco Bureau and Content Services for its commercial auto line of business.
The announcement was made after market hours yesterday, 16 December 2015.
Meanwhile, the S&P BSE Sensex was up 30.93 points or 0.12% at 25,525.30.
On BSE, so far 30,445 shares were traded in the counter as against average daily volume of 82,544 shares in the past one quarter.
The stock hit a high of Rs 654.25 and a low of Rs 637 so far during the day. The stock had hit a record high of Rs 710.25 on 1 December 2015. The stock had hit a 52-week low of Rs 288.60 on 10 September 2015.
The mid-cap company has equity capital of Rs 11.41 crore. Face value per share is Rs 5.
Majesco said the implementation aims to enable Maryland Auto Insurance (MAI) to transform its business by providing enhanced customer service through real-time policy issuance.
On consolidated basis, Majesco reported net loss of Rs 0.58 crore in Q2 September 2015 compared with net profit of Rs 1.52 crore in Q1 June 2015. Net sales rose 24.6% to Rs 184.20 crore in Q2 September 2015 over Q1 June 2015.
Majesco specializes in providing insurance technology & core system software solutions to over 120 insurance carriers globally.
Powered by Capital Market - Live News
