Mastek rises after contract from UK-based Unum

Unum has select Mastek's Elixir platform as the core administration platform for its Group Protection business in the UK

Shares of Mastek were up over 4% at Rs 278 after the company announced that its overseas arm Mastek UK Ltd has won a contract from Unum.  Unum is one of the leading providers of financial protection in the United Kingdom.

Unum has selected Mastek's Elixir platform as the core administration platform for their Group Protection business in the UK, the company said in a release.

Unum will implement Elixir across its Group Protection business in order to create and adapt products more quickly, the release added.

The stock opened at Rs 277 and touched a high of Rs 282. At 10AM, over 210,000 shares were traded on both the stock exchanges.