Shares of Mastek were in demand in an otherwise weak market on Thursday, rising more than 3% after the computer software and consulting company announced that its UK subsidiary had been selected by Staffordshire County Council for an AI-enabled Oracle Cloud transformation programme.
Mastek shares rose 3.28% to hit an intraday high of Rs 1,678.40 apiece on the BSE. The stock pared some of its gains thereafter but continued to trade in positive territory. At the last count, Mastek shares were trading at Rs 1,652.35 apiece, up 1.68% from the previous close of Rs 1,625.
During Thursday's trading session, the stock moved in the range of Rs 1,678.40 to Rs 1,629.95 on the BSE.
At the current market price, Mastek had a market capitalisation of Rs 5,122.25 crore on the BSE.
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In an exchange filing, Mastek said its wholly owned subsidiary, Mastek (UK) Limited, had been selected by Staffordshire County Council to deliver an Oracle Cloud transformation programme covering finance, procurement, human resources and payroll.
Under the engagement, Mastek will deploy its ADOPT AI platform to deliver Oracle Cloud as the council's single, integrated platform for finance, procurement, HR and payroll. According to the company, the new environment will enable the council to consolidate legacy systems, strengthen data governance, enhance employee experience and establish a modern digital foundation to support ongoing transformation.
Staffordshire County Council, described by Mastek as one of England's largest county councils, serves more than 875,000 residents and provides public services across areas including education, social care, highways and community services.
The programme forms part of the council's broader initiative to modernise its corporate services and establish a more agile, digitally enabled operating model. The council is focused on simplifying and standardising back-office processes, improving operational visibility and governance, reducing manual effort and creating a scalable foundation to support future organisational change.
"We are delighted to partner with Staffordshire County Council on this important transformation programme. Local authorities are increasingly focused on modernising operations while preparing for future structural and service delivery changes. By combining Oracle Cloud technology with Mastek's extensive public sector transformation expertise and AI native approach, we look forward to helping the council build a more efficient, resilient and future-ready operating model that delivers long-term value for employees, stakeholders and residents," said Abhishek Singh, President, UKI & Europe, Mastek.
Pete Shakespear, Director of Finance & Resources at Staffordshire County Council, said the council's corporate systems needed to be modern and efficient as it continued to evolve its operating model and prepare for future organisational change.
"Mastek demonstrated a strong understanding of our objectives, and we look forward to partnering with them to deliver a platform that will help us build a more agile and future-ready organisation," Shakespear said.
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