Mastek Share Price Quoting Above 5%

Mastek Ltd is currently trading at Rs 176.80, up by Rs 8 or 5.08 per cent from its previous closing of Rs 168.25 on the NSE. Mastek Ltd informed that the share purchase agreement for acquisition of 100 per cent equity shares of Trans American Information Systems Private Limited has been executed. Following this, Trans American Information System Private Limited has now become a wholly owned subsidiary of the company.

Digitally Inc., U.S., which is an overseas first level step down subsidiary of Mastek, has completed acquisition of TaisTech LLC, USA and Trans American Information System Inc. USA.

Based in Mumbai, India, Mastek Limited is a multinational information technology services company. Mastek Ltd, had delivered a return of -6.54 per cent for a span of one year. Mastek share price opened at Rs 168 and has touched a high and low of Rs 178.40 and Rs 167 respectively. So far 2,45,456 shares were traded on the counter with a traded value of Rs. 426.65, lacs. The current market cap of the company is Rs 391.88 (Cr).

The stock is of face value Rs 5 has touched a 52 week high of Rs 185.40 on 19^th Jan 2016 and a 52 week low of Rs 104.50 on 17^th Feb 2016. Last one week high and low of the scrip stood at Rs 179.20 and Rs 165 respectively. The promoters holding in the company stood at 49.4 per cent while Institutions and Non-Institutions held 12.69 per cent and 37.91 per cent  respectively.

Mastek is analyzed by Dynamic Levels as the top 500 performing stocks for this quarter among the 1700 stocks which are listed on the NSE. Mastek is fundamentally strong and is safe for investment, as per Dynamic analysts.In order to know about the support a

Mastek Share Price Dips 7% On Correction In IT Index

Mastek Limited is a multinational information technology (IT) Services Company headquartered in Mumbai, India. It is one of the oldest software companies in India. The company specializes in building, re-engineering, maintaining and managing enterprise grade business applications for the insurance and government sectors. They offer both IP led product platforms and domain aware services and have expertise in working on large scale modernization programs with determinate and predictable outcomes.

After gaining for about a month on the back of IT Index being the top performer Mastek share price began its slide after closing at Rs. 182.90 on 19^th December. The stock has been tumbling since then losing over 6 per cent in three straight trading days.

The stock has yielded 33.04 per cent in a month and has the market cap of Rs. 409.81 crores as on 22^nd December 2016. The face value Rs. 5 shares have the book value of Rs. 137.16 each. The company has the Consolidated FY 15-16 PE Ratio of 29.82, Consolidated Trailing PE Ratio of 22.28, Standalone FY 15-16 PE Ratio of 30.66 and Standalone Trailing PE Ratio of 19.88.

Today, as the IT Index corrected for second straight trading day after a rally of eight trading sessions, Mastek share price also closed with a drop of approximately 7 per cent. The stock had opened at Rs. 172 lower than its previous close of Rs. 175.95. The stock went as high as Rs. 177 and the low of Rs. 160. In all approximately 4 lakh shares had changed hands on the NSE trading counter.

In past month the stock has witnessed the highest trading volume of over 45 lakhs and the highest deliverables of approximately 7 lakh shares on 14^th December at the low of Rs. 150.60. Mastek is the top 500 performing stock for the quarter as picked by Dynamic Levels. For the details on the stock drop by at Mastek share price history page of Dynamic Levels website.

Mastek reported more than doubled net profit in Q2

Today, Mastek unveiled its results for the Q2 ended September 30th, 2016. The company reported more-than-doubled consolidated net profit to Rs 7.7 crore for the second quarter ended for the financial year 2017 (Q2FY17), despite the decline in operational income. The information technology (IT) company had declared a profit of Rs 2.7 crore in the year-ago quarter.

Mastek share price rose 15% on the NSE in the intraday trade today.

Total income from operations decreased 4.3% at Rs 126 crore in Q2FY17 as compared to Rs 132 crore in Q2FY16.

The company reported the profit of Rs 3.6 crore on revenues of Rs 130 crore in Q1FY17. It also posted the constant currency revenue growth of 1.5% on a quarter on quarter basis.

EBITDA (earnings before interest, taxes, depreciation, and amortization) margin surged 260 basis points (bps) sequentially and 420 bps from the previous financial year quarter at 10.7%.

At 3:30 PM, Mastek share price was trading at Rs. 148.70 with the rise of 12% against the 1.85% rise in the Benchmark Index Nifty and 1.89% rise in the BSE S&P Sensex. So far over 57 lakhs shares changed hands over the NSE counter as against the average volume of 205788 for twenty days.

The growth for the quarter was due to the ongoing operational improvement initiatives, effective cost management and the decline in tax expenses.

The board has permitted payment of interim dividend at Rs 1 per share of the face value Rs 5 per share amounted to 20%, which will be paid to the eligible shareholders on or before November 16, 2016.

The company has the consolidated PE of 22.33 for the financial year 2015-2016 while its standalone PE for the same financial year stands at 22.97. The consolidated trailing PE is 23.97 while the standalone trailing PE is 17.44. For the levels of support and resistance, visit Mastek share price forecast page of Dynamic Levels website.