Majesco

Real estate developer Aurum Ventures has acquired majority stake in Majesco earlier this year

IT services firm Infosys and Majesco, a cloud insurance software solutions provider, on Tuesday, announced a strategic collaboration to work together to help joint customers accelerate their digital transformation journey. This will help unlock new opportunities, address the demand for personalised customer experiences, operational effectiveness, and digital adoption across the insurance business value chain, a regulatory filing said. Infosys' insurance domain and digital capabilities combined with Majesco's cloud-based suite of solutions including the Majesco L&A and Group Core Suite, Majesco P&C Core Suite, and Majesco Digital1st Insurance on Majesco CloudInsurer, will accelerate business growth and innovation for the insurance industry, it added. The combined synergy will help Life & Annuity (L&A), Group, and Property & Casualty (P&C) customers transform their business and will benefit insurers in achieving agility and innovation at speed and scale, the ...

Aurum will pay Rs 77 per share in cash to Majesco's promoters to acquire their 14.78 per cent stake

Competition Commission of India said it has cleared Tata Power's proposed acquisition of 51 per cent stake in North Eastern Electricity Supply Company of Odisha Ltd

The stock has rallied 113 per cent in the last 15 trading days

Majesco has fixed Friday, December 25, 2020, as record date for the purpose of payment of interim dividend

Post monetisation of real estate, the Company will decide the best method for distribution of sale proceeds to shareholders, the company said.

In the past three months, the stock has zoomed 141 per cent as compared to a 10 per cent gain in the Sensex.

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All that happened in the markets today

The company said it has scheduled a meeting on Thursday, October 8, 2020 to consider a buyback proposal.

The revised price is $16 per share, up from the earlier offer of $13.1 per share, valuing the company at $729 million

Of the 16 mid and smallcap companies, where Kacholia held over 1% stake, 13 have outperformed the market during the current financial year

Cash per share after transaction at Rs 852 is more than double the current price

Majesco US has decided to sell its company to a private equity, Thoma Bravo, LP at $13.1/share, valuing the company at $594 million. This offer price is at a 77% premium to Majesco US' last close

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

Company also announced a partnership with IBM aimed at accelerating its new insurance services through IBM cloud

The stock hit a high of Rs 488 and a low of Rs 476 so far during the day

The stock surged 12% to Rs 544 on the BSE on back of heavy volumes.