 "Majesco locked at upper circuit on debut")
Shares of Majesco are locked at the upper circuit, up 5% at Rs 332, on the National Stock Exchange (NSE) on its first day of listing pursuant to the demerger of the insurance products and services business of Mastek into the company.
The stock opened at Rs 316 and has touched a low of Rs 305 on the NSE so far.
The stock is locked at the upper circuit at Rs 326 on the BSE as well, after opening at Rs 310.
Till 10:06 AM, a combined 110,246 shares changed hands on the counter and there were pending buy orders for 281,575 shares on the NSE and BSE.
Majesco offers an integrated portfolio of software and services to the insurance industry.
In September 2014, the board of directors of Mastek had approved the demerger of the insurance products and services business of the company into Minefields Computers Private Limited (renamed as Majesco) followed by transfer of the offshore insurance operations by Majesco to Majesco Software and Solutions India Private Limited, a wholly owned subsidiary of MajescoMastek Insurance Software and Solutions Inc. Mastek had issued shares of Majesco to shareholders in the ratio of 1:1.
The stock opened at Rs 316 and has touched a low of Rs 305 on the NSE so far.
The stock is locked at the upper circuit at Rs 326 on the BSE as well, after opening at Rs 310.
Till 10:06 AM, a combined 110,246 shares changed hands on the counter and there were pending buy orders for 281,575 shares on the NSE and BSE.
Majesco offers an integrated portfolio of software and services to the insurance industry.
In September 2014, the board of directors of Mastek had approved the demerger of the insurance products and services business of the company into Minefields Computers Private Limited (renamed as Majesco) followed by transfer of the offshore insurance operations by Majesco to Majesco Software and Solutions India Private Limited, a wholly owned subsidiary of MajescoMastek Insurance Software and Solutions Inc. Mastek had issued shares of Majesco to shareholders in the ratio of 1:1.