Stock market news: Majesco shares climb nearly 4%

NEW DELHI: Shares of Majesco Ltd. traded 3.76 per cent up in Friday's trade at 12:14PM (IST). Around 9970 shares changed hands on the counter. The stock opened at Rs 847.05 and touched an intraday high and low of Rs 878.9 and Rs 844.35, respectively, in the session so far.

The stock quoted a 52-week high of Rs 877.8 and a 52-week low of Rs 167.95.

Cloud software solutions provider Majesco on Thursday said its board has approved a buyback plan of up to Rs 631.26 crore. The buyback will be done through the tender offer route, the company said.


Financials
Majesco Ltd., incorporated in the year 2013, is a Small Cap company (having a market cap of Rs 2488.07 Crore) operating in IT Software sector.

For the quarter ended 30-09-2020, the company has reported a Consolidated sales of Rs 2.12 Crore, down 99.32 per cent from last quarter Sales of Rs 311 Crore and down 99.12 per cent from last year same quarter Sales of Rs 239.75 Crore. Company has reported net profit after tax of Rs 2376.54 Crore in latest quarter.

Majesco Ltd. key Products/Revenue Segments include Rental Income which contributed Rs 10.24 Crore to Sales Value (100.00 per cent of Total Sales) for the year ending 31-Mar-2020.

Promoter holding
Promoters held 24.63 per cent stake in the company as of quarter ended 31st Sep 2020.

Valuation ratio
It quoted a price-to-earnings ratio of 1.38 and price to book value of 1.05.