Buzzing stock: Mastek gains over 5 per cent on collaborating with fulfilmenttools; outperforms BSE IT index
Since March 23, 2020, i.e. the first hit of the COVID-19 pandemic, the stock recovered attractively and the returns have rallied up to 1,246.73 per cent.
On Wednesday, BSE IT index is trading in red, squeezing 0.38 per cent. Outperforming the index, the stock that has caught the eyes of investors is Mastek Limited. Mastek is a global direct to stakeholder (D2X) specialist that engineers excellence for customers in retail, manufacturing, healthcare, life science, financial services, insurance, public/government and the education sector.
On Tuesday, the company announced that it has joined hands with fulfilmenttools, a German Company, to enable D2X transformation for their joint clients. This partnership will ease the way for clients to deliver an excellent customer experience via a unified D2X process integrating commerce with fulfilment. Fulfilmenttools offers an integrated end-to-end platform solution for efficient omnichannel fulfilment. The suite consists of three modules: a distributed order management system (DOMS), in-store fulfilment, and shipping integration – perfectly suited for the retail fulfilment processes of the future.
Mastek Limited grew by 132.35 per cent in the last 6 months whereas, on a YTD basis, the stock has delivered returns of 125.83 per cent. Since March 23, 2020, i.e. the first hit of the COVID-19 pandemic, the stock recovered attractively and the returns have rallied up to 1,246.73 per cent. It stands to be among the top five IT gainers since the start of the pandemic.
On Wednesday, the share of the company is trading at Rs 2,720.05 per share at 10.35 a.m., which is 5.35 per cent up on BSE.