The shares of the digital & cloud transformation specialist gained up to 15 percent after the company collaborated with NVIDIA to advance its icxPro platform.
Mastek Ltd has a market capitalization of Rs 8,870.23 crore, the shares were trading in positive at Rs 2,874.35 crore, increasing around 11.24 percent as compared to the previous closing price of Rs 2,479.10 apiece.
Today, the company’s shares have seen a positive movement after Mastek Ltd announced a collaboration to advance its icxPro platform with NVIDIA, to offer the next-generation customer experience (CX) solutions powered by artificial intelligence (AI).
Moreover, Mastek’s icxPro, a cloud-native platform designed for building scalable AI applications, will help streamline the development of domain-specific AI applications using the full-stack NVIDIA accelerated computing platform.
Further, icxPro has demonstrated a 20% return on capital employed (ROCE) in the manufacturing sector, with massive potential in the BFSI and Healthcare sectors. The launch of icxPro represents a big step forward in Mastek’s non-linear growth plan.
Examine the company’s financial performance, revenue surge of 10 percent from Rs 709 crore in Q4FY23 to Rs 780 crore in Q4FY24, and during the same period, net profit increased by 29 percent from Rs 73 crore to Rs 94 crore.
The current value of Mastek’s order book as of FY24 is ₹2,168.4 crore ($260.0 mn). Recently Mastek won a multi-tower deal from Yandu Cement Company to optimize the efficiency of its production line.
Further, the client, a pioneer in the cement industry in the Kingdom of Saudi Arabia (KSA), has embarked on a digital & cloud transformation journey with Mastek in 2022, aligning with Saudi Arabia’s Vision 2030 and Smart Industry 4.0 initiatives.
Mastek Limited specializes in business digital and cloud transformation. The company provides vertically oriented-enterprise IT solutions. It operates in four segments: the United Kingdom and Europe, North America, the Middle East, and Others.
Written by:- Abhishek Singh
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