Majesco surges over 10% as arm launches two new solutions

The stock surged 12% to Rs 385 on BSE in intra-day trade on back of heavy volumes.

Shares of Majesco surged 12% to Rs 385 on BSE in intra-day trade after the IT consulting & software firm said that its insurance arm and a subsidiary launched two new solutions.

Majesco, USA, the insurance arm and a subsidiary of Majesco, launched two new solutions, Majesco Enterprise Data Model and Majesco Enterprise Data Warehouse, the company said in a release.

These solutions along with Majesco Data Services and Majesco Business Analytics, provide a framework and assets to create a path for insurers to accelerate their data mastery maturity to achieve business differentiation and optimization through data, it added.

At 11:18 am; the stock was up 11% at Rs 382 as compared to 0.76% rise in the S&P BSE Sensex. The trading volumes on the counter jumped more than eight-fold with a combined 523,030 shares changed hands on the BSE and NSE so far.