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Mastek partners with Microsoft to transform industries using generative AI

Collaboration with Microsoft 

On Wednesday, Mastek announced a strategic collaboration with Microsoft. The collaboration is focused on pioneering innovative solutions that harness the capabilities of Microsoft Azure OpenAI Service and Azure AI Services—especially for the retail, healthcare, manufacturing, financial services, and public sector industries—through the integration of generative AI capabilities. 

Recently, Mastek has signed a flagship deal in the banking sector, which involves generative AI capabilities to transform its customers’ marketing and service domains. Mastek is gaining further traction with customers by enriching its end-user experience through Azure OpenAI Service, which provides enterprise-grade access to OpenAI generative AI services. 

Mastek has developed InfoGENious, a generative AI-based accelerator to answer user queries based on published articles, policies, and structured data. It offers 24/7 secured access to information with role-based controls and multi-language support. The accelerator is intended to improve user experience and productivity while reducing the need for manual interventions. 

Through its collaboration with Microsoft, Mastek is embarking on a transformative journey, embracing generative AI as a driving force across its core service domains. This strategic alliance is set to transform digital engineering, data cloud modernisation, and customer experience. 

Company profile 

Established in 1982, Mastek is a provider of vertically-focused enterprise technology solutions. Having its presence in the IT industry for almost 4 decades, Mastek Ltd has evolved from an IT solutions provider to a digital transformation partner. 

Stock price movement 

On Wednesday, Mastek shares closed at Rs 2,684.45, up by 0.40% from its previous closing of Rs 2,673.85 on the BSE. Today, the stock opened at Rs 2681.10 and has touched a high and low of Rs 2,731.40 and Rs 2,617 respectively. The BSE group ‘A’ stock of face value of Rs 5 has a 52-week high and low of Rs 3,066.10 and Rs 1,475.45, respectively. Last one week high and low of the scrip stood at Rs 3,066.10 and Rs 2617, respectively. The current market cap of the company is Rs 8,234.46 crore. 

Read: Discovering High Dividend Yield Gems in the IT Sector

The promoters holding in the company stood at 36.48%, while Institutions and Non-Institutions held 20.51% and 43.01% respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions. 
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