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Mastek jumps on entering into strategic collaboration with Microsoft
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Mastek is currently trading at Rs. 2741.80, up by 57.35 points or 2.14% from its previous closing of Rs. 2684.45 on the BSE.
The scrip opened at Rs. 2723.75 and has touched a high and low of Rs. 2745.00 and Rs. 2690.00 respectively. So far 2123 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3066.10 on 18-Jan-2024 and a 52 week low of Rs. 1475.45 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 2964.80 and Rs. 2617.00 respectively. The current market cap of the company is Rs. 8398.57 crore.
The promoters holding in the company stood at 36.47%, while Institutions and Non-Institutions held 20.51% and 43.02% respectively.
Mastek has entered into strategic collaboration with Microsoft. The collaboration is focused on pioneering innovative solutions that harness the capabilities of Microsoft Azure OpenAI Service and Azure AI Services -especially for the retail, healthcare, manufacturing, financial services, and public sector industries through the integration of generative AI capabilities.
Recently, Mastek has signed a flagship deal in the banking sector, which involves generative AI capabilities to transform its customers’ marketing and service domains. Mastek is gaining further traction with customers by enriching its end-user experience through Azure OpenAI Service, which provides enterprise-grade access to OpenAI generative AI services.
Mastek has developed InfoGENious, a generative AI-based accelerator to answer user queries based on the published articles, policies, and structured data. It offers 24/7 secured access to information with role-based controls and multi-language support. The accelerator is intended to improve user experience and productivity while reducing the need for manual interventions. Through Mastek’s collaboration with Microsoft, Mastek is embarking on a transformative journey, embracing generative AI as a driving force across its core service domains. This strategic alliance is set to transform digital engineering, data cloud modernization, and customer experience.
Mastek together with its subsidiaries, provides enterprise technology solutions and platforms for insurance, government, and financial services organizations worldwide.
