Multibagger stock: Mastek shares jump 3% on strategic partnership with Netail

Shares of Mastek jumped over 3 per cent to hit a day's high of Rs 1693.35 on BSE on Tuesday after the company announced a strategic partnership with Netail, a new-age and AI-led retail software solutions partner, to help e-Commerce and Omni-channel retailers optimize their retail value-chain and thereby attract, convert, and retain digital consumers.

Notably, the shares of Mastek have delivered multibagger returns to its long-term shareholders as the stock has zoomed over 1,192 per cent in the last 10 years.

"Mastek’s deep expertise in digital commerce & data analytics forged with Netail’s breakthrough AI technology that powers key decisions across assortment, pricing & customer engagement will devise a synergized retail solution," the company said.

The combined retail expertise of Mastek and Netail will empower online retailers with personalized merchandising, a better understanding of consumer behaviour, efficient user experience, flexible assortment strategy, and real-time market visibility.

“With e-Commerce retailers facing challenges by dramatic changes in consumer behaviour and the inadequacy of conventional marketing to influence purchase decisions, the partnership with Netail will empower our retail clients to drive AI-led digital transformation, understand the market from the consumer perspective, and strategize for increased ROI without compromising on brand value,” said Raman Sapra, President & Global Chief Growth Officer at Mastek.

Mastek will also turn ex-dividend today. It announced an interim dividend of Rs 7 per share. Today is also the record date for the same. The dividend will be paid on February 16. The company will also announce its quarterly results today.