Majesco's scrip reaps benefits of strategic partnership

Majesco India on Aug 24, has emerged as the hot pick in small cap. Shares of the company which previously closed at Rs 484.65 on Aug 24, opened at Rs 496. As at 10.13 am shares are trading at Rs 534.55, up by 10.30 per cent.Company has landed up with a strategic partnership with Elafris Inc., which has made the stocks rally. Company post market hours on Aug 23, had informed the bourses about the partnership. As part of the partnership, the two companies will work together to seamlessly pre-integrate Majesco Cloud Insurer via the Majesco Digital Connect Platform with Elafris to provide best-in class communication and engagement experience for insurance companies. The integration will support a range of customer engagement and communication modes, using customer's social network channels for insurance related transactions, including issue of auto insurance ID cards, policy payment, service inquiries and more.

On the other hand, scrip in the last 3 months has given a return of 7 per cent. In the last 6 months it has surged by 18 per cent, making it a hot scrip of the small cap index. 52-week High/Low of the company stands at Rs 789/288.6.Majesco Limited is a public company incorporated on June 27, 2013. It is involved in data processing, which includes the processing or tabulation of all types of data.On the other hand, Elafris Inc., is a supplier of an artificial intelligence powered chatbot messaging platform.