Mastek jumps on winning deal from Yanbu Cement Company
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Mastek is currently trading at Rs. 2704.80, up by 54.45 points or 2.05% from its previous closing of Rs. 2650.35 on the BSE.
The scrip opened at Rs. 2665.55 and has touched a high and low of Rs. 2815.00 and Rs. 2622.15 respectively. So far 12043 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 3147.00 on 16-Feb-2024 and a 52 week low of Rs. 1680.10 on 25-Apr-2023.
Last one week high and low of the scrip stood at Rs. 3100.25 and Rs. 2572.00 respectively. The current market cap of the company is Rs. 8374.08 crore.
The promoters holding in the company stood at 36.26%, while Institutions and Non-Institutions held 21.46% and 42.27% respectively.
Mastek has won the multi-tower deal from Yanbu Cement Company (YCC) to optimize the efficiency of YCC’s production line. YCC, a pioneer in the cement industry in the Kingdom of Saudi Arabia (KSA), embarked on a digital & cloud transformation journey with Mastek in 2022, aligning with Saudi Arabia’s Vision 2030 and Smart Industry 4.0 initiatives.
Following the execution of multiple back office and Enterprise Resource Planning (ERP) transformation programs in the first phase, Mastek will kick-off the second phase, focusing on automating YCC’s front office operations and streamlining the lead-to-cash cycle. By leveraging the Oracle Fusion stack across integrated layers of ERP systems, Mastek will enable YCC to improve customer & employee experience, reduce order fulfilment turnaround time (TAT), optimize material loading & dispatch processes, and enhance quality with governance excellence.
During the initial phase, Mastek transformed YCC’s EBS-based infrastructure to Oracle Fusion Cloud. An extensive suite of Oracle Cloud modules was implemented, such as Human Capital Management (HCM), Enterprise Planning & Budgeting Cloud Service (EPBCS), Profitability & Cost Management Cloud Service (PCMCS), and Oracle Maintenance Cloud. The project marks a significant achievement for Mastek as it expands its revenue streams through CX Transformation, EX Transformation & Industrial Edge offerings, and is poised to tap into new market potential. With an increased focus on CX, EX & connected enterprise solutions Mastek aims to strengthen its footprint as a digital transformation leader in the Middle East region.
Mastek together with its subsidiaries, provides enterprise technology solutions and platforms for insurance, government, and financial services organizations worldwide.
