Majesco rose 1.77% to Rs 538.70 at 11:32 IST on BSE after the company announced signing strategic partnership with iSIGN Solutions Inc, a supplier of electronic signature and other software solutions.
The announcement was made after market hours yesterday, 29 June 2016.Meanwhile, the S&P BSE Sensex was up 193.31 points or 0.72% at 26,933.70
On BSE, so far 21,000 shares were traded in the counter as against average daily volume of 28,892 shares in the past one quarter. The stock hit a high of Rs 549.45 and a low of Rs 537.20 so far during the day. The stock had hit a record high of Rs 789 on 12 January 2016. The stock had hit a record low of Rs 288.60 on 10 September 2015. The stock had underperformed the market over the past 30 days till 29 June 2016, falling 6.55% compared with Sensex's 0.27% gains. The stock had also underperformed the market in past one quarter, sliding 6.97% as against Sensex's 5.52% rise.
The small-cap company has equity capital of Rs 11.59 crore. Face value per share is Rs 5.
Majesco and iSign Solutions Inc. (iSIGN), announced that iSIGN has joined Majesco's partner ecosystem. Through this strategic partnership, Majesco will use iSIGN's electronic signature solution to deliver Majesco's solutions to its insurance customers. iSIGN is a provider of digital transaction management software enabling fully digital (paperless) business processes. iSIGN's solutions encompass a wide array of functionality and services, including electronic signatures, simple-to-complex workflow management and various options for biometric authentication.
Majesco reported consolidated net loss of Rs 1.97 crore in Q4 March 2016 compared with net profit of Rs 7.92 crore in Q3 December 2015. Total income rose 12.38% to Rs 223.81 crore in Q4 March 2016 over Q3 December 2015.
Majesco enables insurance business transformation for about 150 insurance customers worldwide by providing solutions which include software, consulting and services.
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