Mastek Shares Rally Nearly 18% Amid Broad IT Sector Surge

New Delhi, Aug 28: Shares of Mastek Limited surged as much as 20 per cent intraday on Friday, touching an upper circuit high of ₹1,933.90, before settling higher by 17.98 per cent at ₹1,901.40 on the BSE. The stock opened at ₹1,615.00, sharply above its previous close of ₹1,611.60, and climbed steadily through the session to end near its day’s high, locked with a 100 per cent buy position at the close and pending buy orders for over 19,000 shares, with no sellers immediately in sight. 

The rally came on a day when the broader Nifty IT index itself surged as much as 3.2 per cent, its sharpest single-day move in months, after Nvidia’s stronger-than-expected revenue forecast lifted US technology stocks overnight and reinforced investor optimism around the artificial intelligence boom. Large-cap peers such as TCS, HCL Technologies and Coforge climbed up to 4-5 per cent in the same session, with smaller and mid-cap IT names like Mastek posting even sharper percentage gains as investors rotated back into beaten-down technology counters. 

While no company-specific announcement appeared to directly trigger Friday’s move, market watchers said Mastek’s outsized outperformance is consistent with a broader pattern across mid-cap IT stocks this week, as capital rotated from concentrated AI-linked portfolios into IT-services names trading at more reasonable valuations. The Nifty IT index has climbed roughly 15 per cent over the past two months on this theme, even as it remains in negative territory for the year so far. 

Stock Trades Ex-Dividend from Monday 

Separately, Mastek shares are set to trade ex-dividend from August 31, also fixed as the record date for a final dividend of ₹16 per equity share for FY26, as recommended by the board in April. This is on top of an interim dividend of ₹8 per share paid earlier in the year, taking the company’s total payout for FY26 to ₹24 per share. Investors holding Mastek shares as of the record date will be eligible for the dividend; those buying on or after the ex-date will not qualify. 

3,969 New Shares Allotted Under ESOP Plan 

In a separate disclosure dated August 27, Mastek informed exchanges that its Stakeholders’ Relationship Committee had approved and allotted 3,969 equity shares of ₹5 face value each to eligible employees who had exercised vested options under the company’s Employee Stock Option Plan (ESOP Plan VII). The shares, allotted at an exercise price of ₹5 each with no premium, rank pari-passu with Mastek’s existing equity shares in all respects. 

Following the allotment, Mastek’s paid-up share capital rose marginally, from ₹15,50,12,035 comprising 3,10,02,407 equity shares, to ₹15,50,31,880 comprising 3,10,06,376 equity shares. The newly allotted shares carry distinctive numbers 3,79,34,358 to 3,79,38,326 and are not subject to any lock-in period. Together, the dividend record date and the ESOP allotment mark two routine corporate actions already in the public domain well before Friday’s session, underscoring that the day’s sharp rally was driven primarily by broader IT sector sentiment rather than any single company-specific trigger. 

Sources

• NSE/BSE corporate filings
• https://www.nseindia.com/get-quote/equity/MASTEK/Mastek-Limited