Majesco freezes at 5% upper circuit, hits record high on buyback plan

Shares of Majesco were locked in the upper circuit limit of 5 per cent at Rs 858.95, also its record high, on the BSE in the early morning deals on Tuesday after the company said it has scheduled a meeting on Thursday, October 8, 2020, to consider a buyback proposal.

The stock of the IT consulting and software company surpassed its previous high of Rs 846, touched on September 24, 2020. Till 09:21 AM, a combined 39,000 equity shares had changed hands and there were pending buy orders for around 140,000 shares on the BSE and NSE. In comparison, the S&P