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Company News Details

BSE   23 May 17 | 04:01 PM

273.15 -9.05 (-3.21%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: 523704
Face Value: N.A.

NSE   23 May 17 | 03:57 PM

271.80 -11.8 (-4.16%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: MASTEK
Performance
1 Week : Rs 323.05 (-15.45%)
1 Month : Rs 281.45 (-2.95%)
1 Year : Rs 136.85 (99.60%)
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Mastek gains on winning contract from NCGTC

SI Reporter / Mumbai 28 Oct 15 | 02:10 PM

Shares of Mastek were up nearly 2% after the company said it has won a multi-year contract from National Credit Guarantee Trustee Company (NCGTC) to deliver a 'digital guarantee-processing platform'.

The IT platform will enable banks, FIs, referred to as MLI ( Member Lending Institutions) to participate in various credit guarantee schemes of Government of India, Mastek said in a release.

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It is nationwide initiative of extending collateral free loans to various underpriviledged sections of the society. NCGTC envisages a surge in applications from MLIs on commencing its operations and thus the need for a robust IT backbone.

The stock opened at Rs 155 and touched a high of Rs 159. At 2:10pm, over 400,000 shares were traded on both the stock exchanges.

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