Mastek soars after securing GBP 45 million contract with NHS Digital

The 12-month order backlog stood at Rs 1,154 crore as of September 2021.

Shares of Mastek Limited were trading up by 10 per cent intraday on Tuesday after the company announced that its wholly-owned subsidiary, Mastek (UK) Limited has been awarded a healthcare contract with NHS Digital 

The contract positions Mastek at the heart of a critical program focused on the wellbeing of UK citizens and is reported to be valued at GPB 45 million over four years from October 2021 to October 2025. 

NHS Digital design, develop and operate the national IT and data services that support clinicians at work, help patients get the best care and use data to improve health and care. 

Mastek remains well-placed to capture opportunities in the UK government policies, given its long-standing relationship with existing customers in the UK public sector and expanding customer base in other government departments. Further, the company’s US business is expected to progress well, given its integrated solution offerings. 

In the last one and a half years, this Indian multinational technology company stock has shot up from around Rs 294 per share levels to Rs 2,669 per share levels (today at 1:38 pm on BSE) — logging around 807 per cent rise in this period. 

By market close on Tuesday, the stock of Mastek Limited pared some of its earlier gains and closed at Rs 2669.90, up by 6.16 per cent or Rs 155 per share on BSE. The 52-week high of the scrip is recorded at Rs 3,666 and the 52-week low at Rs 881.50 on the BSE.