The digital and cloud transformation company’s stock witnessed a surge of up to 15% following its strategic partnership with NVIDIA to enhance the capabilities of its icxPro platform.
Mastek Ltd, with a market valuation of Rs 8,870.23 crore, saw its shares trade positively at Rs 2,874.35 crore. This marks an approximate 11.24% increase from the prior closing value of Rs 2,479.10 per share.
The firm experienced an uptick in share value subsequent to the announcement of their collaboration with NVIDIA. This partnership is aimed at delivering cutting-edge customer experience solutions powered by artificial intelligence through the icxPro platform.
In addition, Mastek’s icxPro—a cloud-native structure tailored for creating scalable AI applications—will benefit from leveraging NVIDIA’s comprehensive accelerated computing platform, which is expected to facilitate the development of industry-specific AI applications.
The icxPro platform has already exhibited a significant 20% return on capital employed in the manufacturing domain, and it holds considerable promise for both the BFSI and Healthcare industries. The introduction of icxPro aligns with Mastek’s strategy for exponential growth.
Analysis of Mastek’s financials reveals a revenue increase of 10% from Rs 709 crore in Q4FY23 to Rs 780 crore in Q4FY24, alongside a 29% rise in net profit from Rs 73 crore to Rs 94 crore over the same timeframe.
As of FY24, the current worth of Mastek’s order book is estimated at ₹2,168.4 crore ($260.0 mn). The company recently secured a significant contract with Yandu Cement Company aimed at enhancing production line efficiency.
Yandu Cement Company, a trailblazer in Saudi Arabia’s cement industry, has commenced a digital and cloud transformation initiative with Mastek. This project is in sync with the Kingdom’s Vision 2030 and the Smart Industry 4.0 movement.
Mastek Limited stands out as a leader in business digital and cloud transformation, offering vertically integrated enterprise IT solutions across various markets, including the United Kingdom, Europe, North America, the Middle East, and additional regions.
Note: The information provided in this article is based on the author’s research and is not intended as investment advice. Investment in the stock market carries financial risks; investors should proceed with caution. Neither Dailyraven Technologies nor the author shall be held responsible for any losses resulting from decisions made based on this content. It is advised to consult with a financial advisor before making investment decisions.
