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Mastek gains after foreign fund buying

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Capital Market
Last Updated : Feb 17 2014 | 11:55 PM IST

Mastek rose 1.09% to Rs 199 at 10:32 IST on BSE after a foreign fund bought 0.5% stake in the company on Friday, 14 February 2014.

Meanwhile, the BSE Sensex was up 45.43 points, or 0.22%, to 20,412.25

On BSE, so far 16,739 shares were traded in the counter, compared with an average volume of 1.17 lakh shares in the past one quarter.

The stock hit a high of Rs 201.60 and a low of Rs 195.50 so far during the day. The stock hit a 52-week high of Rs 213.85 on 9 January 2014. The stock hit a 52-week low of Rs 103 on 2 August 2013.

The stock had outperformed the market over the past one month till 14 February 2014, rising 7.39% compared with the Sensex's 3.17% fall. The scrip also outperformed the market in past one quarter, gaining 29.38% as against Sensex's 0.16% decline.

The small-cap company has an equity capital of Rs 12.32 crore. Face value per share is Rs 5.

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Merrill Lynch Capital Markets Espana bought 1.24 lakh shares of Mastek at Rs 197.79 per share in a bulk deal on BSE on Friday, 14 February 2014.

Mastek's net profit rose 21.86% to Rs 18.34 crore on 1.6% increase in total income to Rs 242.35 crore in Q3 December 2013 over Q2 September 2013.

Mastek is a leading IT player with global operations providing enterprise solutions to insurance, government, and financial services organizations worldwide.

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First Published: Feb 17 2014 | 10:48 AM IST

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