Latest Stock Market News

Mastek, incorporated in the year 1982, is a Small Cap company (having a market cap of Rs 6739.88 Crore) operating in IT Software sector.

“We want to get our digital products to 50% and that is what we are on our way to. With this quarter, we would have reached 36% in digital revenues and as we scale all of these, each of these digital products have their glide path to improve their margins and therefore we are confident of hitting our aspiration of 23% to 25% in the mid to long term.”

The Book Running Lead Managers (BRLMs) include Intensive Fiscal Services Private Limited, Ambit Private Limited, IIFL Securities Limited and Link Intime India Private Limited.

On the technical charts, the RSI of the stock stood at 53.31.

The stock fell more than 30% from its listing day high. LIC listed on bourses on 17th May 2022 and made a high of Rs 920. The stock closed at Rs 622 on 18th July 2023 which translates into a fall of nearly 33%.

A total of 482 shares changed hands on the counter till 11:27AM (IST).

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban.

A total of 185,951 shares changed hands on the counter till 10:05AM (IST)

The revenue is seen growing up to 18% year-on-year, while the estimates are mixed on the profit front. While some analysts are expecting a profit growth up to 18% YoY, others see a decline up to 7%.

There could be a deep holding story about Reliance in terms of various businesses which they have so obviously first this story of demerger of financial services obviously if as we rightly saw that a lot of peer comparison so I think should be momentum play in terms of Reliance obviously once that gets listed.