Stock Of The Day: Mastek To Enhance AI Platform In Partnership With Nvidia—Key Levels
All you need to know about Mastek's partnership with Nvidia.
Mastek Ltd. has announced that it will enhance its icxPro platform with Nvidia's accelerated computing to offer the next generation of customer experience solutions powered by artificial intelligence.
The icxPro is a cloud-native platform designed for building scalable artificial intelligence applications using the full-stack Nvidia accelerated computing platform, which includes Nvidia NIM microservices, part of the Nvidia AI Enterprise software platform, a press release said on June 6.
This solution caters to the manufacturing, healthcare, banking, financial services, and insurance spaces. It has demonstrated a 20% return on capital employed in the manufacturing sector, it said.
Mastek reported flat quarter-on-quarter revenue of Rs 780 crore in the fourth quarter of fiscal 2024. Ebitda margins were down 98 basis points to 16%, while net profit rose 21.4% to Rs 94 crore. The order book increased sequentially by 5% to Rs 2,168 crore.
Shares of the company rose 15.85% intraday before paring gains to trade 10.62% higher at Rs 2,853 apiece at 10:14 a.m. The stock has risen 2.30% year-to-date.
Key Levels To Watch
Resistance level: Rs 2,987.9 per share (one-month high).
Support level: Rs 2,460 per share (20-day moving average).
Analysts' Recommendations
Of the five analysts tracking the company, four maintain a 'buy' rating and one suggests a 'hold', according to Bloomberg data. The return potential from the consensus target price implies a 3.7% upside.
