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Majesco stock closes 5% higher after UNIFI Wealth Management buys 2.06 lakh shares

Majesco stock opened with a gain of 2.14% at Rs 794.70 on BSE

twitter-logoBusinessToday.In | September 23, 2020 | Updated 17:48 IST
Majesco stock closes 5% higher after UNIFI Wealth Management buys 2.06 lakh shares
Majesco share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages

Share price of Majesco hit all-time high today after UNIFI Wealth Management bought 2,06,000 shares of the company. Majesco stock opened with a gain of 2.14% at Rs 794.70 on BSE.

The stock has risen 8% in three sessions. It touched an intraday high of Rs 816.95 , rising 5% on BSE. Majesco share stands higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has gained 114%  since the beginning of this year and risen 95.65% during last one year.

Total 0.73 lakh shares changed hands amounting to turnover of Rs 5.96 crore on BSE. Market cap of the firm rose to Rs 2,418 crore.

Later, the share closed 5% higher at Rs 816.85 on BSE.

UNIFI Wealth Management purchased 2,06,000 shares of the company at an average price of Rs 779.05 per share, bulk deal data available on NSE show.

Majesco Limited is a provider of insurance software, consulting and services for business transformation for the insurance industry. The company offers software solutions for property and casualty (P&C) and life and annuity (L&A) and Pensions Group Employee Benefits providers, allowing them to manage policy administration, claims management and billing functions.

Meanwhile,aq2 Sensex and Nifty reversed early gains and closed a tad lower on Wednesday amid weak global cues. Extending fall for the fifth consecutive session, Sensex ended 65 points lower at 37,668 and Nifty declined 21 points to 11,131. On September 22, BSE 30-share benchmark Sensex ended 300 points lower at 37,734 and NSE Nifty 50 fell 96 points to 11,153.

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