Mastek, a software solution provider gained nearly 14% on intraday basis on Thursday. This is also the highest intraday increase for the stock since October 4, 2016. With today’s gain, the stock snapped its two-day long losing streak even as the counter crossed its 50-day moving average of Rs 185.4 per share.
The stock is witnessing strong volume with volume recorded at more than 9.5 times its 20-day average. The stock has gained more than 50% in previous six months whereas as the S&P BSE Information Technology Index climbed merely 0.5% over past six months.
Mastek provides integration services to financial services, insurance, manufacturing, telecom and retail sector. Mastek is Mumbai Headquartered and Keystone Solutions Pvt ltd is its subsidiary.