The stock of Mastek soared 16.36 per cent to Rs 213.40 during trading hours today following announcement the firm had acquired the assets of US-based SEG Software for an undisclosed amount.
On the Bombay Stock Exchange (BSE), 38,586 shares were traded in the counter compared with average volume of 3,574 shares over the past two weeks.
The stock hit a high of Rs 213.85 and a low of Rs 190 during trade today.
SEG Software provides policy administration systems covering life, health and annuity insurance products. The deal will help Mastek expand presence and capabilities in the life and annuity policy administration areas in the US, it said.