Mastek Ltd allotted 70713 shares under an employee stock option plan.
Buoyed by fast-paced growth in financial services vertical, Mastek Ltd, a first generation Indian software company and a global provider of IT solutions and integration services, is mulling expansion in the European market.
During the quarter ended March 31, it added seven clients, the highest since the third quarter of 2007-08.
As per the agreement, Mastek's wholly-owned US subsidiary MajescoMastek would buy 90 per cent equity stake in Vector for $4.5 million payable at closing.
Mastek said Sudhakar Ram has taken charge of Mastek UK operations
Mumbai-based IT applications firm Mastek Ltd on Wednesday signed an agreement to acquire 15.5 acres of land at the Mahindra City industrial park
Mastek Ltd has been awarded a 10-year contract by Syntegra, BT's system integration arm, for an initial sum of 27 million pound as part of the national programme for information technology within the United Kingdom's National Health Service.
IT service provider Mastek on Monday said it is putting 425 staff on 'virtual bench' for the next 12 months following a slowdown in demand.
The company would be investing in training the people on virtual bench in the next 12 months. Mastek has an employee strength of 4,000 spread in Mumbai, Pune and Chennai.
Mumbai-based software solution company Mastek is all set to open a huge facility in Chennai to serve its customers abroad.
Mastek has said the company 'believes that senior management has no legitimacy to run companies on behalf of shareholders if it is involved in practices like selectively sharing price sensitive info.'
Mastek has posted a 28 per cent decrease in net profit to Rs 5.4 crore (Rs 54 million) for the third quarter ended March 31, 2003 when compared with Rs 7.52 crore (Rs 75.2 million) for the corresponding quarter last fiscal.
Software solutions provider Mastek would set up its second development centre in Pune at a cost of Rs 27 crore (Rs 270 million).
India's Mastek group, an IT services provider, said on Friday its US arm Majesco Software has formed a joint venture with Carreker Corp to offer business processing and IT services from offshore locations like India.\n\n\n\n
Software firm Mastek on Monday posted a 114.90 per cent increase in net profit at Rs 12.4 crore (Rs 124 million) for the quarter ended March 31, 2005 compared to Rs 5.77 crore (Rs 57.7 million) in the same quarter in 2003-04.
Mastek Ltd has posted a net profit of Rs 157.50 million for the quarter ended December 31, 2002 (DQ-02) as compared to Rs 94.10 million in the quarter ended December 31, 2001(DQ-01).
Mastek Ltd has posted a sharp drop in its consolidated net profit at Rs 4.09 crore (Rs 40.9 million) for the second quarter ended December 2003 as against Rs 16.26 crore (Rs 162.6 million) in the same period in 2002.
Mastek Ltd has posted a 37.5 per cent drop in its consolidated net profit to Rs 10.02 crore (Rs 100.2 million) for the third quarter ended March 2004 as compared to Rs 16.03 crore (Rs 160.3 million) recorded in the same period of the previous year.
Chief executive officers (CEOs) across sectors have expressed intentions to expand capacities, expecting the government's target to invest a record Rs 11.11 trillion on infrastructure development will act as a catalyst for a jump in consumer demand. "With the government planning a capex of Rs 11.11 trillion, private sector investment will come in a big way. Companies will be preparing for it right from today," H M Bangur, chairman of Shree Cement, told Business Standard. For the past few years, the investment scene in India has been dominated by government capital expenditures; private investments in the manufacturing sector have remained muted.
The benchmark Nifty50 managed to reclaim its 200-day moving average (DMA) on Wednesday but about half of top 500 stocks continue to languish below this key technical indicator. The 200-DMA - nearly a year's average of closing prices - is analysed by traders to understand the market sentiment. A fall below these levels indicates a weak trend.
While the Indian Institute of Technology (IIT) Kanpur may have attracted among the highest donations by an individual (former student and IndiGo Airlines co-founder Rakesh Gangwal) at Rs 100 crore last week, IITs have largely seen such contributions rise over recent years, despite the Covid pandemic. According to Mahesh Panchagnula, dean, Alumni and Corporate Relations, IIT Madras, in the last five years, the premier institute has raised more than Rs 135 crore under the endowment category of education alone. Despite the pandemic, there has been an increasing trend in endowment funding received at IIT Madras, with an average increase of about 20 per cent year-on-year across the last five years.
Existing investors should not make any drastic changes in their portfolio at the onset of elections, say experts.
British Prime Minister Boris Johnson, who landed in Ahmedabad on Thursday morning on a two-day India visit, was accorded a grand welcome at the airport in Ahmedabad. Soon after, he visited Sabarmati Ashram in the company of Gujarat Chief Minister Bhupesh Patel.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The Indian Institute of Technology alumni is planning to create a new fund to support its various social projects. The projects are expected to create job opportunities for rural youth and transform India's Industrial Training Institutes.
In the mid-tier space, clients with weak balance sheets are likely to ask for price revision apart from delay in payment.
"The global meltdown is an opportunity for our customers to come to India. We (IT industry) faced a crisis in 2001. Our customers came to India in 2001," IT company Mastek founder Ashank Desai told reporters at the India IT 2020 Conference.
IT company Mastek has been commissioned to evolve a toll system that would make it mandatory for motorists to pay a premium for using the road infrastructure during busy times.
While outplacement is a relatively new concept in India, it helps boost morale at the time of layoffs.
Transcript of the chat with IT whizkid Ashank Desai.
Soumendra Nath Lahiri, senior VP, Equities, at DSP Merrill Lynch, says that they have maximum midcap exposure to media and IT in Opportunities Fund. The company has increased exposure to Mastek and Deccan Chronicle, he adds.
Despite encouraging quarterly results of IT companies like Infosys, iGate and Mastek, technology stocks have had a poor showing, with share prices falling between 2 to nearly 17 per cent, mainly due to global weakness in the sector, strengthening rup
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The regulator will conduct forensic audit of all the seized documents, laptops, and mobile phones, which are suspected to be involved in the fraudulent activity, reports Shrimi Choudhary.
Corporate honchos from real estate sector to manufacturing to textile say the Budget does not have enough to help their sectors
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