Mastek Shares Slump Nearly 70% on Demerger of Insurance Business

Sharemasterindia.com: Stocks of IT services company Mastek slumped nearly 70 per cent on Friday following the demerger of its insurance products and service business. The record date for the demerger has been fixed at June 15.

Shares of Mastek fell 67 per cent at its day's low of Rs 142.5, from Thursday's close of Rs 437.


Majesco will represent the insurance products and services business of Mastek. The existing investors of Mastek would get Majesco shares in 1:1 ratio. Majesco shares will be listed on BSE/NSE within 45-50 days.

As of 10:39 a.m., shares of Mastek traded 66 per cent lower at Rs 146.