 "Mastek extends rally on fund buying")
Shares in Mastek has rallied 9% to Rs 354, extending its previous day’s 20% rally on National Stock Exchange (NSE), after Sundaram BNP Paribas Simple Fund bought nearly 200,000 shares of software services company through open market.
The stock opened at Rs 347 and touched a 52-week high of Rs 363 on NSE. The trading volumes on the counter more than doubled with a combined 2.34 million shares changed hands till 1000 hours on NSE and BSE.
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.
Yesterday, the stock closed 20% higher, after Mastek 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.
The stock opened at Rs 347 and touched a 52-week high of Rs 363 on NSE. The trading volumes on the counter more than doubled with a combined 2.34 million shares changed hands till 1000 hours on NSE and BSE.
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.
Yesterday, the stock closed 20% higher, after Mastek 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.