Farid Kazani, group chief financial officer and director-finance, Mastek adds that the company will be a solution company after demerging the insurance business.
Farid Kazani, group chief financial officer and director-finance, Mastek says the company will list its insurance business on the New York Stock Exchange (NYSE) after the CoverAll merger gets completed.
In an interview to CNBC-TV18, Kazani says the entire transaction will be earnings per share (EPS) accretive.
Kazani further adds that Mastek will be a solution company after demerging the insurance business.
The decision to merge the two businesses is the latest step in the execution of Majesco's aggressive growth strategy to consolidate its global insurance business under a single and separate entity, Mastek said in a press release.
Transcript to follow soon.
Mastek stock price
On December 15, 2014, at 14:12 hrs Mastek was quoting at Rs 324.80, up Rs 54.10, or 19.99 percent. The 52-week high of the share was Rs 337.00 and the 52-week low was Rs 134.00.
The company's trailing 12-month (TTM) EPS was at Rs 23.41 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 13.87. The latest book value of the company is Rs 153.48 per share. At current value, the price-to-book value of the company is 2.12.
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